LONDON (AP) — Shares of app-based meal delivery service Deliveroo tumbled by as much as a third in their U.K. stock market debut on Wednesday. The London-based company’s shares slid even after they were priced at the bottom of the potential range, reflecting investor wariness and broader market turbulence for tech-related stocks. Demand was also hurt after a number of leading U.K. fund managers said they would abstain from investing amid concerns about working conditions for Deliveroo delivery riders and its shareholder structure. Still, Deliveroo’s initial public offering is one of Europe’s biggest yet this year. Deliveroo competes with Uber Eats, and its backers include Amazon.
