Didi Global Stock Forecast: $3.55 is first target
$DiDi Global (Delisted)(DIDI.US$
There remains little certainty over the price at which DIDI shares will be repurchased. The company said recently it will submit to Chinese authorities and delist its shares from US exchanges, but there was no color given over whether the company will repurchase them at the origianl IPO price or at the current share price, which was down 87% on Friday.
Despite uncertainty over how much Didi will buy back shares from the public, the market likes what it heard. Shares jumped not only past the 50-day moving average but also have found their footing above the 100-day. The 100-day now appears to be acting as support. Now resistance at the March 25 gap down level of $3.55 is the first target for bulls. Above there, $4.25 has shown itself to be strong resistance in the past.
There remains little certainty over the price at which DIDI shares will be repurchased. The company said recently it will submit to Chinese authorities and delist its shares from US exchanges, but there was no color given over whether the company will repurchase them at the origianl IPO price or at the current share price, which was down 87% on Friday.
Despite uncertainty over how much Didi will buy back shares from the public, the market likes what it heard. Shares jumped not only past the 50-day moving average but also have found their footing above the 100-day. The 100-day now appears to be acting as support. Now resistance at the March 25 gap down level of $3.55 is the first target for bulls. Above there, $4.25 has shown itself to be strong resistance in the past.
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MonkeyGee : The stock will trade back to IPO price between now and relisting
Chris I : Any idea what is IPO price?
Siausin : Didi has said they won’t buy back its shares pursuant to the US delisting. The post delisting trading routes to shareholders are not clear at all because DiDi has been extremely opaque about what would happen to existing shares…it is really a very irresponsible management team. First tricking investor into buying their IPO/shares despite knowing they are under investigation and told by Chinese regulator to abort listing and then when a delisting is the only way out of investigation they just left the small shareholders in total limbo. Truly a disgrace
Siausin MonkeyGee: Are you kidding me? It not even know if they will be listed again. If you are so confident they will trade back to their IPO price of US$14 put money where your mouth is and show to people instead of trying to BS here
MonkeyGee Siausin: and guess which USA brokerage house was holding their hands all the way!
MonkeyGee Siausin: ok, don't say I didn't tell u
Siausin MonkeyGee: You think you are god? Haha
FrostythemoomOP Siausin: DIDI was set to start trading its shares on the over-the-counter market, and changed its trading symbol to "DIDIY" $DiDi Global Inc (DIDIY.US)$