Why Uber Stock Fell Today
Shares of ridesharing giant Uber Technologies (NYSE: UBER) have fallen today, down by 5% as of 11:40 a.m. EST, following some ongoing setbacks in Europe. The broader market is also selling off due to fears surrounding the escalating coronavirus outbreak.
Uber lost its license to operate in London back in November, which the tech company is in the process of appealing. The court has now decided to allow the Licensed Taxi Drivers' Association to participate in the case as an interested party, according to Reuters. That will give the organization, which opposes Uber, the ability to make submissions, as well as access documents, potentially making Uber's appeal more difficult.
Image source: Uber.
Source Fool.com
