Uber skids after reporting 6,000 sexual assault claims

'Doing the right thing means counting, confronting, and taking action to end sexual assault'

Uber shares were set to open lower Friday morning after the company disclosed thousands of reported sexual assaults during rides in 2017 and 2018.

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The early selling erased about $500 million of market value. Uber finished Thursday’s session with a market capitalization of $48.9 billion.

TickerSecurityLastChangeChange %
UBERUBER TECHNOLOGIES INC.36.80-0.60-1.60%

The report, released Thursday evening, showed passengers and drivers reported 5,981 instances of sexual assault out of 2.3 billion trips. No safety-related issues occurred in 99.9 percent of Uber trips, the company said.

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“Doing the right thing means counting, confronting, and taking action to end sexual assault,” Uber CEO Dara Khosrowshahi tweeted.

Last month, Uber reported its third-quarter loss narrowed to $1.2 billion, from $5.2 billion in the prior quarter. The company expects to reach full-year profitability in fiscal 2021.

Uber shares have tumbled 32 percent since they began trading on the Nasdaq on May 10.

FOX Business’ Thomas Barbari contributed to this report.