Uber makes it simple for customers to hail a car, but investors can’t easily buy a piece of the privately held company.
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Security company ADT, for example, pulled its shares off the market this spring after going private in a nearly $7 billion buyout.Not only are fewer companies publicly traded, but many of the companies that still list on exchanges have fewer shares available to trade than before.Apple, for example, has 17 percent fewer shares available in the market than five years ago. It and the other businesses across the Standard & Poor's 500 index spent a total of $572 billion last year on share repurchases.Only 15 percent of all large-cap stock funds were able to tie or beat the S&P 500 over the 10 years through the end of June, according to a recent tally by S&P Dow Jones Indices.Nine U.S. companies are set to go public this week, headlined by the planned debut of Valvoline Friday.
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