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Why DiDi Global Stock Is Plummeting Again Today

·2 min read
Why DiDi Global Stock Is Plummeting Again Today
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Shares of DiDi Global (NYSE: DIDI), a China-based ride-sharing company, fell again today on worries that the Chinese government could significantly penalize the company for its recent U.S. IPO. Bloomberg News reported yesterday that the Chinese government was considering "unprecedented" penalties against DiDi. The Cyberspace Administration of China pushed back on DiDi going public, but DiDi went through with it anyway, causing the Chinese government to view the IPO as a threat to its authority, according to the report.