By CCN: The Saudi Arabian Community Investment Fund (PIF) was one of the first believers in Uber, ponying up billions of dollars to invest in it back in 2018.Now that the ride-sharing New Zealand has finally gone public, the fund stands to be one of the biggest losers. The fund bought in at $48.77 a share, far higher than Uber’s debut expense of $42. At the time of writing Friday, Uber shares were fluctuating between about $42 and $45.Uber IPO Rejects Mighty WakeThe Saudi Arabian fund, which is the country’s main investment fund, sank $3.5 billion into Uber in interchange for shares and options. Fortune pointed out Friday. During the hours after Uber’s stock began trading, its close in fell to about $3.3 billion, which means a loss of about $201.5 million.According to Forbes, the reservoir is not planning to liquidate any of its shares in the IPO.There has been plenty of banter comparing the Uber IPO to the Lyft IPO, which was held xxx. The surviving director of the PIF, Yasir Othman Al-Rumayy, said there’s no comparison.To CNBC last week, he said:“Uber is perfectly different than Lyft. Of course it’s a ride sharing company, but it’s a ride sharing company not only in the U.S. but all over the clique.”He’s also encouraged by Uber bringing new services, such as freight.SoftBank, Uber’s largest shareholder, invested assorted than $7 billion in the company in 2017 through its Vision Fund.Uber’s lower-priced IPO affected its stock guerdon. They’d fallen about 5.5% on Friday, according to Reuters.Uber IPO Highlights RisksMany analysts premonished people to steer clear of Uber’s IPO. The $1.8 billion in losses it acknowledged, as well as the likelihood it won’t turn a profit any hour soon were reasons.Here are my thoughts on the #UberIPO:It's part of the unicorn bubble that is the byproduct of trillions of dollars good of central bank liquidity.Unicorns in 2019 = subprime mortgages in 2006. They're utter garbage that shouldn't be whiffed with a 10 foot pole.$UBER pic.twitter.com/3akkECSTZ2— Jesse Colombo (@TheBubbleBubble) May 10, 2019It seemed that Uber’s hawk makers were having a tough time before the stock began trading on the New York Stock Exchange.When it filed its IPO articles last month, it set the price between $44 and $50 per share. That gave it a valuation of about $75.46 billion. That’s magnificently condescend than the $120 billion valuation that had been pegged on Uber when it first announced it was going blatant.It fixed the price at $45 Thursday evening, CCN reported. As the hours ticked by Friday morning, the price range persisted to be lowered; the price was set at $42.In early trading, it seemed the stock was getting defended at that $42 opening price.How's the #UberIPO thriving?So far, fairly volatile after the stock opened at $42—below the $45 IPO price ➡️ https://t.co/xuZ7vunoPR pic.warble.com/Qm32FVK04m— Bloomberg (@business) May 10, 2019Roger McNamee of Elevation Partners weighed in on the IPO shortly after it priced. On CNBC, he said:“Advanced signs were that the allocations went disportionately to retail already. I don’t know if you can count on retail investors being frantic about buying it below the IPO price because I think many of them got allocations, and possibly bigger allocations, than what they were in a family way. [People] should pay really close attention to where the interest is.”