Recents in Beach

Following China's crackdown, DiDi's stock has dropped 25% in pre-market trading in the United States

Following China's crackdown, DiDi's stock has dropped 25% in pre-market trading in the United States




Let's begin with china where crackdown on its tech giants is leading to fall in their market value like never before these global shares are on a downslide after slumping as much as 25 yesterday in u.s pre-market rate the shares are in a free fall since chinese regulators ordered companies app to be taken down days after its 4.4 billion dollar listing on new york stock exchange china cyber space administration ordered removal of ride-hailing giants up in the country from app stores the cyber space administration of china had launched an official investigation into companies handling of customers data earlier yesterday dd global shares fell as much as 25 percent in early use trading the cac on earlier announced cyber security investigations into other chinese companies whose parents have listed in us and those parents shares also slide full truck alliance was down about 18 and kansa unlimited was down about 12 reports said company was born by regulators to delay the ipo and examine its network security the crackdown on chinese tech giants had led to decline in values of many firms including alibaba but this time china's cyber space regulator ordered stores to stop offering dd's app after finding company had illegally collected users personal data.

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