Uber starts trading at $42 a share, 6.7% below IPO price

Traders gather at post where Uber Technologies Inc. holds it's IPO on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 10, 2019. REUTERS/Andrew Kelly

NEW YORK (Reuters) - Uber Technologies Inc's stock on Friday opened down 6.7 percent in its first trade on the New York Stock Exchange, in the most high-profile U.S. market debut since Facebook Inc seven years ago.

It was a landmark moment for the decade-old company, which was started after its founders struggled to find a cab on a snowy night and has grown into the world's largest ride-hailing company.

Uber Technologies Inc. CEO Dara Khosrowshahi and co-founder Garrett Camp take a selfie photograph on the trading floor of the New York Stock Exchange (NYSE) during the company's IPO in New York, U.S., May 10, 2019. REUTERS/Brendan McDermid

Uber shares debuted at $42. Its initial public offering on Thursday was priced at $45, at the lower end of its $44 to $50 per share target range.

(Reporting by Joshua Franklin in New York; Editing by Matthew Lewis and Bill Rigby)

Traders gather at post where Uber Technologies Inc. holds it's IPO on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 10, 2019. REUTERS/Brendan McDermid