- 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.
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%.
Stay up to speed with hot stocks' news!
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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD posts gain, yet dive below 0.6500 amid Aussie CPI, ahead of US GDP
The Aussie Dollar finished Wednesday’s session with decent gains of 0.15% against the US Dollar, yet it retreated from weekly highs of 0.6529, which it hit after a hotter-than-expected inflation report. As the Asian session begins, the AUD/USD trades around 0.6495.
USD/JPY finds its highest bids since 1990, approaches 156.00
USD/JPY broke into its highest chart territory since June of 1990 on Wednesday, peaking near 155.40 for the first time in 34 years as the Japanese Yen continues to tumble across the broad FX market.
Gold stays firm amid higher US yields as traders await US GDP data
Gold recovers from recent losses, buoyed by market interest despite a stronger US Dollar and higher US Treasury yields. De-escalation of Middle East tensions contributed to increased market stability, denting the appetite for Gold buying.
Ethereum suffers slight pullback, Hong Kong spot ETH ETFs to begin trading on April 30
Ethereum suffered a brief decline on Wednesday afternoon despite increased accumulation from whales. This follows Ethereum restaking protocol Renzo restaked ETH crashing from its 1:1 peg with ETH and increased activities surrounding spot Ethereum ETFs.
Dow Jones Industrial Average hesitates on Wednesday as markets wait for key US data
The DJIA stumbled on Wednesday, falling from recent highs near 38,550.00 as investors ease off of Tuesday’s risk appetite. The index recovered as US data continues to vex financial markets that remain overwhelmingly focused on rate cuts from the US Fed.