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.
You making the play here? Maybe in broader set of Chinese stocks?