Is Didi stock a buy at $2?
Investors in Chinese ride-hailing giant Didi (OTCMKTS: DIDIY) stock have been in for a rough ride of late. Since the company’s high of more than $18 following its initial public offering (IPO), shares of DIDI stock have since sunk to around $2 per share in recent sessions.
Why did Didi global shares surge in premarket?
Shares of DiDi Global Inc. DIDI, -2.61% surged 5.3% in premarket trading Monday, after the China-based ride-hailing giant provided details from its delisting from the NYSE after shareholders approved the move.
Did Didi just get delisted from the NYSE?
Chinese ride-hailing giant Didi ( DIDI Y) has officially delisted from the NYSE. Instead, this company is now trading under the DIDIY ticker on the OTC exchange.
What happened to Dididi global?
DiDi Global Inc. ( DIDI , Financial), the largest ride-hailing company in China, debuted on the New York Stock Exchange on June 30, 2021 to much fanfare and media attention. The excitement was short-liv... Recent actions by the Chinese government have spurred investors to buy China this week.
Is Didi global about to delist from the NYSE?
Please try again later. (Bloomberg) -- Didi Global Inc. is preparing to delist from the New York Stock Exchange, after its initial public offering there last year drew the wrath of Beijing. The Chinese ride-hailing giant said it plans to list in Hong Kong instead, allowing existing shareholders to convert their holdings in the company.
What happened to Didi stock?
Just 11-months after making a splash in a $4.4 billion IPO, Didi shareholders made official Monday what has long been considered inevitable and approved a plan to delist its shares from the New York Stock Exchange.
What would happen to Didi if it got delisted from the US?
SoftBank, which is Didis largest stockholder, would be the biggest loser in a delisting. So would Uber, which got a stake in Didi in exchange for selling its Chinese operations to the company. Uber has been facing tough competition outside the U.S. and has exited several other markets in Asia.
What does DiDi’s delisting mean for Chinese stocks?
For Chinese president Xi Jinping, social stability and national security are a far bigger concern than Didi stockholders losing billions of dollars. The country has taken a hard turn toward the left, erasing the gains it has made over the last two decades. Didi’s delisting would also impact other Chinese companies seeking a U.S. listing.