A banner announcing the IPO of Uber Technologies hangs outside the New York Stock Exchange, May 10, 2019.
Andrew Kelly | Reuters
Insider selling is likely to keep Uber shares under pressure for the rest of November following the expiration of the stock’s lockup period, according to Bank of America Merrill Lynch analysis.
Wall Street expects a slow-burn decline over the next several weeks given the large number of private investors and venture capitalists that are still in the money, wrote analyst Justin Post.
“The consensus view seems to be for selling pressure post lockup that lasts a few months,” Post said in a note to clients. “We think lock up related selling will likely remain a…