Shares of DiDi Global (NYSE: DIDI) fell 19.5% on Tuesday after the Chinese government announced that the ride-hailing company would need to cease new user registrations while regulators conducted a cybersecurity review of its popular app.
The news came late on Friday ahead of the holiday weekend. With the U.S. stock markets closed on Monday in observance of Independence Day, investors were forced to wait until Tuesday before they could take action. Many shareholders responded by selling their shares today.
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Source Fool.com