Day traded for small 10% profi

2021-07-05

Day traded for small 10% profit but my view is that the announcements of probe straight aft e IPO is suspect. Two of my own speculatitions with NO EVIDENCE (so please dont view this as a statement of fact):

i) Didi was aware before the IPO but used their connection to hold the announcement until the IPO happened to avoid a ant finance situation - reflects very badly on Didi but suggests strong relationship with government

ii) some top official was unhappy that they didnt make a killing on e ipo and decided to make a move against the company to tank the stock so he could either buy in on the cheap or take revenge for not being included in the deal

Any way it really makes me very sceptical about investing in chinese companies and lets me understand why tech behemonths like tencent and alibaba are trading at such a huge discount compared to google amazon and microsoft

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