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“Uber stock tanks 6% after losing its London operating license: ‘There is a risk that other cities could follow’ (UBER)”

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…”

https://markets.businessinsider.com/news/stocks/uber-stock-sinks-after-losing-london-operating-license-2019-11-1028714120

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