Cheers broke out Friday as Uber became a publicly traded company, in the biggest IPO of a U.S. company since Facebook went public seven years ago.
But the jubilation was short-lived as the first trade showed a 9 percent drop from the $45 IPO price.
That rarely happens on a stock's opening day.
There's been some concern about what the stock should be worth given Uber's massive losses. Since its inception in 2009, the company has lost about $8 billion and estimated it lost roughly another billion in the first quarter.
Investors were also skittish after watching Lyft's stock give up nearly a third of its value since going public.
Compounding concerns: shares of Uber came to market amid the backdrop of a global stock market on track for its worst week of the year. Investors are on edge after Washington ratcheted up the trade war with Beijing at midnight.
Uber's IPO marks a landmark for the creator of the ride hailing segment, since then its expanded into food delivery and freight hauling - all in an effort to one day start making a profit.