REUTERS: Uber Technologies Inc co-founder and former chief executive Travis Kalanick has sold nearly 21per cent of his stake in the ride-hailing company following the expiry of a so-called lockup period, a regulatory filing from late Friday showed.AdvertisementHe still owns about 75.4 million shares in Uber, worth more than US$2 billion, based on their Friday closing.
Shares of Uber hit a record low of US$25.58 on Wednesday, when trading restrictions on majority of the company's 1.7 billion outstanding shares were lifted. The San Francisco-based company's shares were down 2.2per cent at US$26.44 in morning trade on Monday. They have tumbled about 41per cent since the market debut in May.
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