Money Makers Mentor

Didi Shares Fall Following China’s Security Crackdown

Shares of DiDi Chuxing (NYSE:DIDI) stock continued to fall after debuting on the New York Stock Exchange two weeks ago, amid China’s new security regulations. Shares of Didi stock have dropped more than a third from their peak the first day of trading.

IPO Details and Stock Slump

Didi stock began trading on Friday, July 2. China announced that it was conducting a cybersecurity review of the ride-hailing company. Shares closed down 5.3% Friday following China’s announcing its cybersecurity review. According to an English translation of the announcement, new users will be unable to register for Didi during the review. The app was also removed from Chinese app stores. Chinese regulators made the announcement only two days after the ride-hail service held its IPO on the NYSE. The Cyber…

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