- Chinese ride-hailing giant $DiDi Global Inc.(DIDI)$ has officially delisted from the NYSE.
- Instead, this company is now trading under the DIDIY ticker on the OTC exchange.
- The company has officially launched under its new ticker, marking the first day of trading for $DiDi Pinksheet(DIDIY)$stock.
Investors in Chinese ride-hailing giant Didi(OTCMKTS:DIDIY) stock have been in for a rough ride of late. Since the company’s high of more than $18 following its initial public offering (IPO), shares of DIDI stock have since sunk to around $2 per share in recent sessions.
That said, that’s not necessarily the news investors are focused on right now. (After all, most stocks are down in this market).
Rather, it’s there-listingof DIDI stock as DIDIY on the over-the-counter exchange that has investors looking at this overseas company. Previously listed on the NYSE, this move to over the counter and an OTC/Hong Kong listing removes much of the delisting discussion around this Chinese stock. In many ways, investors appear relieved by Didi’s move to delist itself preemptively. This avoids what would likely have been a forced delisting by regulators.
Now, regulatory risk and delisting concerns are among the various issues Chinese-based companies listed in the U.S. have battled in recent years. Let’s dive into what investors may want to watch with Didi, as this company looks to move past this one headwind.
Time to Buy DIDIY Stock as It Delists From the NYSE?
This move to delist from the NYSE is one that appears to solve a lot of the company’s problems. Thus, this “voluntary” delisting appeases all parties on both sides of the ocean. That’s not to say this company’s trials and tribulations are over, something that’s bad for investors.
Additionally, Chinese lockdowns and a slowing global economy paint a difficult picture for Didi and its peers. Until these clouds of uncertainty are lifted, it’s hard to make the case that Didi stock is one that’s poised to surge from here.
Of course, at these lower prices, the risk-reward with Didi looks to be much better. Perhaps now is the time to buy. That said, this stock market appears to be erring on the side of caution. Thus, it’s a buyer beware market right now.
source: investorplace
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