Despite warnings from the Chinese government (and even an attempt to stop the company’s IPO in its tracks), DiDi stock hit the NYSE on June 30. Shortly thereafter, regulators in the tech company’s home country decided to halt the app. They didn’t ban the IPO directly, but removed the platform from all app stores within China.
Unsurprisingly, DiDi stock tanked by 32.5 percent from its peak on July 1, which amounted to about a 22 percent loss for initial investors. Many traders don’t think the company is a good investment if it can’t even function.
View more information: https://marketrealist.com/p/chinese-tech-stock-futures/