Shares of Didi jump on reports of end of Chinese probe
Shares of Chinese ride-hailing giant Didi Global (NYSE: DIDI) jumped as much as 53% during pre-market trading on Monday after The Wall Street Journal reported regulators are concluding investigations into the company
By Yashasvini Razdan
Published - Jun 06, 2022, 05:17 PM ET
Last Updated - Mar 01, 2024, 08:28 AM EST
• Chinese authorities will reportedly lift the ban on Didi for adding new users
Shares of Chinese ride-hailing giant Didi Global (NYSE: DIDI) jumped as much as 53% during pre-market trading on Monday after The Wall Street Journal reported regulators are concluding investigations into the company.
The report stated that Chinese authorities would lift a ban on Didi and two other U.S.-listed, Chinese tech companies, allowing them to add new users as early as next week and reinstate the company’s app in domestic app stores.
Didi got listed on Wall Street last year, with a blockbuster opening, but the Chinese authorities initiated a cyber-security probe into the company, sending the stock crashing down.
