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Why Is Everyone Talking About Meituan Stock?

·4 min read
Why Is Everyone Talking About Meituan Stock?
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China's antitrust regulators recently fined Meituan (OTC: MPNG.Y), one of the country's largest on-demand delivery companies, 3.44 billion yuan ($533 million) -- or 3% of its domestic revenue from 2020 -- following a closely watched probe that started in April. The investigation mainly focused on Meituan's use of exclusive deals to prevent its merchants from using other delivery services. A wide range of other Chinese tech stocks also rallied alongside Meituan as investors digested the news.