SoFi Blog

For some, Uber’s initial public offering (IPO) has been a major disappointment so far. The ride-sharing company, which has disrupted the transportation industry, went public on May 10, 2019 and its stock price immediately began to fall. Here’s a look at what happened and some factors that may have caused Uber’s IPO tumble.

What Happened with Uber’s IPO?

On Thursday afternoon, Uber set its IPO price at $45 a share . At that price, the company had a projected value of $82.5 billion .

However, when the markets opened on Friday morning, the stock immediately began trading at 6.7% below the IPO price at $42 a share. By the end of trading, the stock was down 7.6% below , closing at $41.57. The company raised $8.1 billion in its IPO, which gave it an initial valuation of $76.5 billion .

The stock fared no better on its second day of trading. Prices slid another 11% , or $4.47, to end at $37.10, or 18% lower than the IPO price. And though the stock price had recovered a bit by the end of its third day of trading, closing at $39.96, that was still well below its opening share price on Friday.

First came SoFi’s fee-waived* ETFs, SoFi Select 500 ETF (ticker: SFY) and SoFi Next 500 ETF (ticker: SFYX), providing our members access to diversified US equity for only $10 per share.

Then came the SoFi Gig Economy ETF (ticker: GIGE), a first-of-its-kind thematic ETF focused on the companies revolutionizing how individuals live and work. SoFi is now excited to highlight the fourth ETF in our line-up: the SoFi 50 ETF (ticker: SFYF).

If you got a tax refund this year, you’re probably still giddy about the extra money. Who doesn’t love an unexpected windfall? Maybe you gave the federal government a little too much out of each paycheck last year. But what matters now is that you’ve got a tax refund in hand, and you want to be wise about how to use it.

If you have yet to decide what to do with your tax refund, it might be time to set some priorities. This is going to be relatively painless, and hopefully it will help you gain some clarity on the money issues that keep you up at night.

If debt is dragging you down, this could be an opportunity to pay off a credit card or two, or some other high-interest debt that’s been plaguing you. If your refund is anywhere close to the average—which was about $3,000 last year—you could potentially take a serious bite out of any balances you’re carrying.

If your summer plans consist of days spent by the pool, catching up on a juicy summer read, we’re jealous. If you’re in the market for a house, you may want to consider swapping your easy beach read for the real estate listings.

As the weather heats up, typically so do housing markets—nearly nearly 40% of housing sales occur between April and July . Nice summer weather can not only make it easier for real estate agents to show a house, but it can also simplify the process of moving since you don’t have to deal with snow, ice, or any wintery complications.

Before you head out to the plethora of open houses, consider these tips for navigating the summer home buying season.

Summer’s almost officially here. And for live music enthusiasts that means one thing: it’s time to start making those 2019 music festival dreams a reality.

There are a whole lot of options out there. The 2018 season saw over 150 festivals to choose from. It’s highly likely that 2019 will offer the same abundance of awesome and be a good year to hit the road with your pals, see some live music, and make some new memories.

With all those choices and options, you might have to do some planning. Here’s our guide to some of the top music festivals this summer, with some tips on how to maybe save and manage cash along the way.