China cracks down on Didi days after IPO
DiDi is a Chinese Ride Hailing app that raised $4.4bn in its listing on the New York Stock exchange this Wednesday. This was the biggest Chinese listing in the US since Alibaba listed seven years ago.
The stock initially rallied, then two days later news broke that the Chinese regulators are investigating the company. They say they are doing this “in order to maintain national security and protect the public interest.” The stock fell 5.3 per cent on Friday to $15.52 on this announcement.
The Cyberspace Administration of China then went on to announce today that Didi’s app had “problems of seriously violating laws on collecting and using personal information”. They ordered that Didi be taken down from Chinese app stores. These actions are all based on China’s new cyber security review system, which is about a year old.
Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC
Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance
Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle
Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve
Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join
didi stock
China cracks down on Didi days after IPO
didi scandal
didi app store
rug pull
Видео China cracks down on Didi days after IPO канала Patrick Boyle
The stock initially rallied, then two days later news broke that the Chinese regulators are investigating the company. They say they are doing this “in order to maintain national security and protect the public interest.” The stock fell 5.3 per cent on Friday to $15.52 on this announcement.
The Cyberspace Administration of China then went on to announce today that Didi’s app had “problems of seriously violating laws on collecting and using personal information”. They ordered that Didi be taken down from Chinese app stores. These actions are all based on China’s new cyber security review system, which is about a year old.
Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC
Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance
Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle
Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve
Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join
didi stock
China cracks down on Didi days after IPO
didi scandal
didi app store
rug pull
Видео China cracks down on Didi days after IPO канала Patrick Boyle
Показать
Комментарии отсутствуют
Информация о видео
Другие видео канала
![The Downfall of Doctor Dozy!](https://i.ytimg.com/vi/eOb_ZW450-o/default.jpg)
![2023 The Financial Year in Review](https://i.ytimg.com/vi/DvIL0D_904E/default.jpg)
![A Chainsaw to the Economy?](https://i.ytimg.com/vi/0SXC1qtDp-U/default.jpg)
![Twitter is Going Bankrupt!](https://i.ytimg.com/vi/B1_aOQ3RbHg/default.jpg)
![The Man Who Modernized China](https://i.ytimg.com/vi/0czSoky4jCA/default.jpg)
![Is This A Golden Age of Fraud?](https://i.ytimg.com/vi/_V4-n5aTtq8/default.jpg)
![Million Dollar Homes - Where Should YouTuber "How Money Works" Buy a House?](https://i.ytimg.com/vi/oFD_C-uWUGY/default.jpg)
![Britain’s Mortgage Crisis!](https://i.ytimg.com/vi/e6hg6aLZSzw/default.jpg)
![The Scam of The Century!](https://i.ytimg.com/vi/USM2Qlt_Pn4/default.jpg)
![The SEC Comes For Crypto!](https://i.ytimg.com/vi/5ram7bHbZxI/default.jpg)
![How a Lottery Win Might Change You!](https://i.ytimg.com/vi/DFcFGaj6w04/default.jpg)
![Turkey In 2023 - An Economy on The Brink?](https://i.ytimg.com/vi/pghKyEzB9Uw/default.jpg)
![Commercial Real Estate Meltdown?](https://i.ytimg.com/vi/5QtCC6eUn-k/default.jpg)
![The Death of Globalization!](https://i.ytimg.com/vi/H5ejv-dTAaU/default.jpg)
![Carl Icahn Comes Under Fire!](https://i.ytimg.com/vi/K4hKrOdjlKc/default.jpg)
![Why First Republic Bank Was Seized and Sold to JPMorgan?](https://i.ytimg.com/vi/m6vadJ3S39w/default.jpg)
![Would a BRICS Common Currency Work?](https://i.ytimg.com/vi/JHZnVdBZJfA/default.jpg)
![Is Apple A Threat to Banks?](https://i.ytimg.com/vi/4J0ZlvYKMfg/default.jpg)
![Finfluencers! How Good is Popular Personal Financial Advice?](https://i.ytimg.com/vi/JEWQBg6wv44/default.jpg)
![Forbes Has a Fraud Problem!](https://i.ytimg.com/vi/V36kSqwjaaw/default.jpg)
![Jamie Dimon Warns Banking Crisis 'Is Not Yet Over!'](https://i.ytimg.com/vi/rGi4Lrdn57E/default.jpg)