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Thursday, May 19, 2022

DiDi Global Inc (DIDI) stock soared in the pre-market. Here’s the reason

The stock of DiDi Global Inc (DIDI) was trading at $2.5 before closing the last trading session. DIDI stock remained bearish in the regular trading session and lost 14.97% of its value from the previously traded session.  During the pre-market, DIDI stock bounced back and posted an increase of 10% in its value to $2.75 per share. There is no recent press release from the company. But the change in stock price can be connected to the ongoing US-China tension. The last press release by the company was published in December 2021, when the company released the unverified financial results. Whereas the last SEC filing from the firm dates to 14 February 2022. DIDI filed form SC 13G with the SEC on 14 February 2022.

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DiDi Global Inc is an organization occupied with the activity of the portability innovation stage. The organization is centered around shared versatility, furnishing shoppers with a scope of portability administrations. Currently, DIDI has a market cap of $12.06 billion and has its headquarters in Beijing, China.

What’s happening with DIDI?

The Chinese stocks recorded on U.S. trades battled as the circumstance between the U.S. also, Chinese financial controllers kept on working out. As of late, the SEC has added more Chinese stocks that are facing delisting from the exchanges. Despite no news from the firm, the stock is moving. One of the factors driving the stock price of DIDI is the ongoing US-China tension. For a while now, U.S. besides, Chinese regulators have been at chances over investigating Chinese stocks that trade on U.S. exchanges. Chinese controllers don’t permit external auditors to audit Chinese organizations’ financials because of public safety concerns.

DIDI is additionally in intriguing shape in light of the fact that around the finish of 2021 the organization had reported that it intended to delist from the New York Stock Exchange and rundown its units in Hong Kong.

The way that Chinese controllers showed their support for Chinese stocks is positively uplifting news. But at the same time, U.S. controllers have refused to compromise on their situation, as they keep on naming stocks that face delisting and say that Chinese organizations should be fully consistent with the U.S. evaluating regulations.

DIDI Financials

In December 2022, DIDI published the results for Q2 of FY21. The main points are

  • Total sales of $6.6 billion in Q2 of FY2021.
  • Total loss of $4.7 billion in Q2 of FY21.
  • Moreover, DIDI posted a loss of $4.02 per stock in FY2021.

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