“Uber stock tanks 6% after losing its London operating license: ‘There is a risk that other cities could follow’ (UBER)”
November 26, 2019
“Uber’s stock was set to sink Monday morning after the ride-hailing firm lost its license to operate in London.
The stock was down 6.3% in premarket trading as of 10:30 a.m. in London (5:30 a.m. ET) after the regulator Transport for London said it found a “pattern of failures” that put the safety of passengers in the city at risk…
“It sends a worrying signal to the market about the regulatory overhang the company faces — if London goes this way there is a risk that other cities could follow,” he said…”