Where Will DiDi Global Be in 5 Years?
DiDi Global (NYSE: DIDI), the largest ride-hailing company in China, burned many investors after its IPO on June 30. DiDi priced its shares at $14, but they're now trading at about $7.
Shortly after Didi's IPO, the Cyberspace Administration of China (CAC) abruptly suspended all new user registrations for DiDi's app within the country as part of an industrywide cybersecurity review. The CAC also ordered the removal of DiDi's app from all of China's mobile app stores.
In July, China sent personnel from seven government agencies to conduct the cybersecurity review at DiDi's offices. Subsequent reports suggested DiDi could face a major fine, a suspension of certain operations, the introduction of a state-owned investor, or the forced delisting of its shares in New York. The Wall Street Journal claimed DiDi had considered taking itself private, but DiDi denied those rumors.
Source Fool.com
