DIDI Stock Recent News
DIDI LATEST HEADLINES
Chinese ride-sharing company Didi will purportedly be fined $1 billion by Chinese regulators, sources close to the matter told the Wall Street Journal, and of greater note, will be able to resume normal operations without restrictions.
Chinese authorities braced to conclude a yearlong probe into DiDi Global Inc's (OTC: DIDIY) cybersecurity practices by imposing a penalty of over $1 billion, the Wall Street Journal reports. China looks to ease an earlier restriction banning Didi from adding new users.
Chinese authorities are preparing to impose a fine of more than $1 billion on ride-hailing firm Didi Global that could bring an end to a probe into the company's cybersecurity practices, the Wall Street Journal reported on Tuesday.
The payments division of ride-sharing and food delivery firm Didi was hit with 4.27 million yuan ($632,170) in fines on Friday (July 15) by the People's Bank of China, Reuters reported, citing a notice from the central bank.
Today marks the first day of trading for DIDI under its new DIDIY stock ticker on the over the counter exchange - here's what to know. The post Goodbye DIDI Stock, Hello DIDIY!
After a year-long investigation, Chinese authorities allowed these companies back on the country's app stores to resume growth.
Recent actions by the Chinese government have spurred investors to "buy China" this week.
Chinese ride-sharing company DiDi Global Inc (NYSE: DIDI) jumped 50% following reports that Chinese regulators had ended investigations into the company. According to the Wall Street Journal, regulators had indicated that they would lift the ban on the company adding new users from next week.
China's Didi is in talks with Sinomach Automobile to own a third of the latter's electric-vehicle making unit, two sources said, signalling the ride-hailer is trying to get back to growth after its regulatory troubles.
With delisting approved and an end to regulatory probes, uncertainty around DiDi is now significantly reduced. At a P/S of 0.33, the fear around DiDi seems to be an over-exaggeration.