DiDi Global Inc. (DIDI) Up 4.55%: What Happened?
DiDi Global Inc. (DIDI) stock is up 4.55% in the last day. For details on what happened in the market, see our analysis.
Trade DiDi Global Inc. - DIDI CFD
DiDi Global Inc. live chart
Trading Conditions
- Long position overnight fee
- -0.0225%
- Short position overnight fee
- -0.0219%
- Overnight fee time
- 21:00 (UTC)
- Min traded quantity
- 1
- Currency
- USD
- Margin
- 20%
- Stock exchange
- United States of America
- Commission on trade
- 0%
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Key Stats
| Prev. Close* | 1.83 |
| Open* | 1.96 |
| Day's Range* | 1.92 - 1.92 |
| 1-Year Change* | -2.97% |
| Volume | N/A |
| Average Vol. (3m) | 1215.81 |
| 52 wk Range | N/A |
| Market Cap | 8494.57 |
| P/E Ratio | N/A |
| Shares Outstanding | 1182.63M |
| Revenue | 25976.9 |
| EPS | -2.84072 |
| Dividend (Yield %) | N/A |
| Beta | N/A |
| Next Earnings Date | N/A |
| All data is provided by Refinitiv, except for data marked with an asterisk, which is *data provided by Capital.com | |
DiDi Global Inc. Company profile
Track the Didi share price today and spot the best levels now for profitable CFD trades.
Didi Chuxing (Didi) is a Chinese technology company operating a wide range of vehicle for hire and finance related platforms. Founded in Beijing in 2012 as a taxi hailing app by Cheng Wei, formerly of Alibaba, the company has expanded its operations throughout Asia, South America, Australia, Russia, South Africa and the Caribbean. It has more than 490 million annual active users, according to a regulatory filing and provides millions of independent drivers in over 16 countries with flexible work opportunities in various driving-related roles.
The company posted $21.6bn in revenue last year. Financial figures show net income of $95m on $6.44bn for the first quarter of 2021. Currently operating as a ride hailing app, the company has publicly stated its goal of becoming a driverless taxi service, with ambitions to improve traffic efficiency through data analytics. They aim to reduce emissions and traffic congestion through smart (driverless) electric vehicles.
Didi went public on 30 June 2021, with an initial public offering (IPO) on the New York Stock Exchange. The Didi share price opened at $16.65, almost 20% above its offer price of $14, and closed the day at $14.14. The closing price equated to a market capitalisation of $67.8bn, higher than the $62bn valuation received in its last round of seed funding.
The IPO seemed well-timed. As restrictions enacted due to the pandemic begin to ease, demand for ride-sharing services should increase. But within a week of the IPO, the Chinese government ordered a ban on listing the company in the app store, accusing Didi of personal data misuse.
This ban does not stop current customers from using the service but it does prevent any new customers in China from downloading the app. The Cyberspace Administration of China declared that the app “has serious violations of laws and regulations” concerning its personal data collection from users. The company is also facing anti-competition inquiries from Chinese state authorities under allegations it used its large market share to unfairly push smaller competition from the market through predatory pricing.
While the company has publicly stated that these accusations will hurt the Didi Chuxing share price in the short-term, they were upfront with investors prior to the IPO that they may face financial penalties as a result of these investigations.
They may just be the latest in a string of tech giants to be forced under the Chinese government microscope after listing on a foreign stock exchange. Their huge size and international scope should provide them with some protection from any devastating long-term consequences, if they comply with authorities.
You can check the Didi stock price today live with the DIDI chart at Capital.com.
| Industry: | Mobile Application Software |
No. 1 Block B, Shangdong Digital Valley
No. 8 Dongbeiwang West Rd, Haidian Dist.
BEIJING
BEIJING 100193
CN
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| Long position overnight fee | 0.0634% |
| Short position overnight fee | -0.0929% |
| Overnight fee time | 21:00 (UTC) |
| Spread | 0.02 |
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