Didi Global (NYSE:DIDI) stock is on the move today as the Chinese ride-sharing company gets a point in the right direction.
Didi Global has been dealing with a cybersecurity investigation in its home country and that’s finally about to reach its close. With it, Chinese regulators are reportedly advising the company to list its shares inHong Kong.
If these reports are true, it means Didi Global can finally go public overseas. It’s already listed in the U.S. on the New York Stock Exchange. However, this caused trouble in China when it sought to list shares there as well.
China has been cracking down on tech companies in general lately. In addition to that, it’s been even more strict with companies that list their shares in the U.S. This is the result of a continuing trade war between the two countries takes place.
With today’s news comes heavier-than-normal trading of DIDI stock. As of this writing, more than 61 million shares of the stock have been traded. That’s well above the company’s daily average trading volume of 25 million shares.
DIDI stock was up 11.5% as of Thursday afternoon but is down 32% since its initial public offering (IPO) earlier this year.
Investors seeking more of the latest stock market news are in luck!
InvestorPlace houses the hottest stock market coverage that traders need to know for Thursday. Among that is a new hire boosting Skillz (NYSE:SKLZ) stock, Portillo’s (NASDAQ:PTLO) going public today, as well as Crocs (NASDAQ:CROX) rising on earnings results. You can find all that information at the following links!
More Stock Market News for Thursday
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- CROX Stock: 9 Reasons Why Crocs Investors Are Kicking Up Their Heels Today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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