Didi is delisting in New York.
Shareholders of ride-hailing group Didi Chuxing will on Monday vote on delisting from the New York Stock Exchange
Last June, shortly after its US$4.4 billion initial public offering (IPO) in the U.S., $DiDi Global (Delisted)(DIDI.US$ became the subject of a series of investigations at home.
Unable to sign up new users, Didi's revenue has declined and losses have increased while redundancies have added a weakened morale.
Some of the biggest investors in Didi like $TENCENT(00700.HK$, $Apple(AAPL.US$ , and $Alibaba(BABA.US$ vote in favor of a delisting.
What happens if you own a delisted stock
Once a stock is delisted, the company's shares can keep trading through a process known as"over-the-counter."
Delisting is not the end
Delisting is not the end
Last summer, Chinese coffee chain operator $Luckin Coffee(LKNCY.US$ was delisted from the Nasdaq after the company revealed the fabrication of 2.2 billion yuan ($340 million) in sales. The stock plunged to a low of 95 cents a share in June 2020.
But shares rose even after going "over-the-counter" and closed at $12.92 each overnight.
Wondering what to buy? Auto investment plan is a good choice. Tab to know more.
For more investment knowledge and trends, go to Learn on moomoo.
For more investment knowledge and trends, go to Learn on moomoo.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Silverbat : IPO scam
doctorpot1 : I did check with CS and was told that if you dont sell, DiDi shares will still be held by moomoo as they are the custodian and still need to pay ADR fees for them. Seems like I'm gonna be a bag holder of a pink sheet until they re-list
https://www.moomoo.com/community/feed/108197927714822?data_ticket=5b3500b278c1b7aa4a176e85285988a1&futusource=nnq_personal_host
ATS A trade sniper : sell c shares with these ccp act
Milk The Cow : R.I.P
MonkeyGee : Well see the brigh side of this now it can trade to market value in the OTC market.
steady Pom pipi : Walk slowly or not.