The value of the ride-sharing company dropped $1.5 billion after it reported thousands of sexual assaults taking place on its rides.
Uber's stock market value fell by as much as $1.5 billion Friday as investors turned against the ride-hailing giant after it said more than 3000 sexual assaults took place during its US rides in 2018.
Wall Street's sentiment follows Uber's release on Thursday of a safety report that said it received 3045 reports of sexual assaults in its rides in 2018, on top of 2936 such incidents in 2017. Of those figures, Uber said there were 235 reports of rape in 2018, up from 229 in 2017.Uber CEO Dara Khosrowshahi said his heart was with the survivors of the crimes.
But Dan Ives, who follows Uber as a managing director at Wedbush Securities, said the report is another example of issues that continue to plague the company.
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