DiDi Stock News: DiDi Global Inc tanks further during mixed session for Chinese ADRs

NYSE:DIDI fell by 7.65% during Monday’s trading session.
Investors continue to receive mixed signals from Didi and the Chinese government.
Chinese ADRs had a mixed session as Baba and Nio rose, but JD and PDD fell.

Stocks Reporter FXStreet

NYSE:DIDI carried over its recent slide from the previous week, and on Monday, its skid hit five consecutive sessions. Shares of DIDI dropped a further 7.65% on Monday and closed the trading day at $3.02. Didi has had one of the more tumultuous stays on the New York Stock Exchange ever since the Chinese ride-hailing giant went public in June of 2021. On Monday, US stocks rose again following their second consecutive positive week. The Dow Jones gained 94 basis points, the benchmark S&P 500 added 0.71%, and the tech-heavy NASDAQ index led the way, jumping higher by 1.31%.

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Didi Global continues to give mixed signals on what the ultimate goal for the company is. In December, Didi stated that it would be delisting from the US stock market in favor of a listing in Hong Kong. Recently, the Chinese government has axed that plan and it seemed as though it would be providing support for companies listed on foreign exchanges. On Friday, the Chinese government backtracked yet again, calling the reports of abiding by US auditing laws as ‘premature’. Whatever the actual message is, investors have been on a roller coaster ride with Didi since the day it went public.

DIDI stock price

Other Chinese ADRs fared better than Didi on Monday, although overall it was a mixed session for the stocks. AliBaba (NYSE:BABA) and Nio (NYSE:NIO) rose, as the latter delivered its first ET7 vehicles, and rebounded from a post-earnings sell off. On the negative side of the action, shares of JD.Com (NASDAQ:JD) and PinDuoDuo (NASDAQ:PDD) both fell to start the week as JD.Com was hit with rumors of mass layoffs of staff and a Series B preferred shares capital raise.

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Stocks Reporter

FXStreet

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