Just five months after its debut, ride-hailing giant Didi Global said it plans to withdraw from the New York Stock Exchange and pursue a Hong Kong listing, a stunning reversal as it bends to Chinese regulators angered by its U.S. IPO.
Reaction was very clear: stock was down 22.17%, -$8.4 billion in market value. Didi shares have fallen about 57% from IPO price.
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See also Inflation Alert! Fed releases Inflation Expectations Fall at Short-Term Horizon but Rise Slightly at Longer Horizons. One-year (4.4%), 3year (2.9%), and 5-year (2.6%) inflation expectations all higher than the Fed's target of 2%. Inflation appears to be becoming anchored in consumers expectations.
You making the play here? Maybe in broader set of Chinese stocks?