DiDi (DIDIY) Stock Rises 14% On News Of $1 Billion Fine DIDIY stock is rising on news that a probe into its cybersecurity practices has ended
Didi Global (DIDIY) is up 14% today on news that a probe into its cybersecurity practices has ended. The company has been targeted by Chinese authorities since it held an initial public offering (IPO) in New York last year. The end of the regulatory probe lifts a cloud of uncertainty that had been hanging over DIDIY stock. DIDIY Stock – DiDi (DIDIY) Stock Rises 14% On News Of $1 Billion Fine Source: rafapress / Shutterstock.com Shares of DiDi Global (OTCMKTS:DIDIY) rose 14% earlier today on news that the Chinese ride hailing and delivery company has been hit with a $1 billion fine. This signals the end of a regulatory investigation into DIDIY stock and its cybersecurity practices, and allows it to start adding users to its platform again.
According to multiple media reports, authorities in Beijing want Didi Global to pay $1 billion for committing data breaches. While no company wants to pay a fine, the financial penalty ends a long-running probe into its cybersecurity practices, lifting a cloud of uncertainty and enabling DiDi Global to resume normal operations. Investors are taking the end of the investigation as a positive development and bidding up the stock as a result.
Even with today’s leg higher, DIDIY stock is down 38% on the year and trading on the over-the-counter market at $3.25 per share. The company delisted its stock in the U.S. earlier this year in another move designed to appease Chinese regulators.
Submitted August 01, 2022 at 03:44PM by Kashmiri-pandit
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