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UBER co-founder Travis Kalanick sells his entire stake - Capital Street FX

23-Dec
22:17 IST

In the Premarket trading session on Monday, Boeing’s stock was trading at 29.99-lower by 1.35% as compared to its previous close.

According to the latest news the co-founder of UBER Travis Kalanick has sold most of his stakes in the company during the past weeks. The news was released on the bases of SEC filings.

According to the sources Travis started selling his share in the early November after the UBER lockup period expired till now he have sold more than 90 % of his stake in the company.

The investors are bearish on the share of loss-making companies. UBER launched its IPO this year only at price of 45 dollar per share since than share of Uber has been falling and current under 32 dollar a share.

UBER technologies Inc has settles the sexual harassment complaint which was filled by its own employee. According to settlement deal UBER agreed to pay 4.4 million dollars.

The EEOC said it have found substantial evidence which suggest that UBER has permitted a culture of sexual harassment and retaliation against women.

On the technical front, he current price is below the MA5 and the MA20. The current price is below the lower band of the Bollinger Bands and is heading downwards. The stock is expected to trade lower today.

Overall Bias is Negative and short-term trades can be initiated with tight Stop Loss and Profit targets.

TRADE SUGGESTION- SELL@ 30.10 STOPLOSS @ 30.60, TARGET@ 29.10

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