Uber and the banks exercise the greenshoe to avoid becoming an IPO undercorn? #uber

Who knows what forces were at play here during the first day of the Uber IPO, but this bump in the middle sure looks like someone was trying to get the Uber stock out of the rut – perhaps the investment banks exercising the greenshoe option? Cue the usual pictures of two big hairy animals fighting each other.

Screen Shot 2019-05-10 at 1.51.25 PM

Bloomberg reports that out of 207 million shares allocated for the IPO total, 27 million were reserved for greenshoe. I wonder how much of that was spent in the first day.

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