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Updated from 7:47 a.m. EST
The new shares of United Airlines parent UAL (UAUA Quote) were off to a rough start on their first day of Nasdaq trading, dropping 8% in the first two hours.
After opening at $40 Thursday, the airline's new stock was lately at $36.71, down $3.29 from the first quote. Nearly 2 million shares traded by around 11:30 a.m. EST.
United's three-year stay in bankruptcy ended Wednesday. The company's old shares, previously listed on the New York Stock Exchange and relocated to the over-the-counter Bulletin Board when United went into Chapter 11, no longer have any value. ...
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