DiDi, the Uber of China, Went Public in June: Here's What Investors Should Know
It has been a tough few weeks for DiDi Global (NYSE: DIDI). Mere days after its market debut, the ride-hailing company's shares closed on July 9 at $12.03, down more than 14% from the IPO price.
On June 30, DiDi raised $4.4 billion via an initial public offering that valued the company at more than $70 billion, selling 317 million American Depositary Shares (ADS) at $14 a pop -- the top of the range marketed to investors. In the process, DiDi became the biggest Chinese company since Alibaba to list in the U.S.
But shares of DiDi are now underwater, due in large part to a regulatory clampdown by Beijing on U.S.-listed Chinese stocks. DiDi's mobile app has been pulled from app stores in China, so for now, no new customers can sign up for the service. While investors are understandably feeling cautious about DiDi right now, others may be wondering if this pullback represents a buying opportunity.
Source Fool.com
