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Uber Founder Cuts Ties

S&P 500 Target of 3,150 And The Importance of 2,950 Pivot on Volume

Travis Kalanick is severing all ties with Uber, departing from the board and selling all of his shares in the firm according to sources. Kalanick was ousted as CEO in 2017 but remained a director. And over the past 2 years has dumped a large part of his stock holdings. He will step down effective December 31. According to the latest public filings his holdings are about $2.5 billion. He will focus on new businesses and philanthropic endeavors, after leaving the firm he founded 10 years ago.

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