Seems like I'm gonna be a bag holder of a pink sheet until they re-list 😭😭
I had checked with MooMoo if it supports pink sheet and it does. Why did I ask? Because Didi was notified that its relisting plan wouldn’t receive a green light until it makes sufficient ‘rectifications’ in accordance with probes conducted by regulators.
So all my DiDi shares will still be held by moomoo as they are the custodian and I still need to pay ADR fees. could be helpful for you to decide what is your next move![]()
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So all my DiDi shares will still be held by moomoo as they are the custodian and I still need to pay ADR fees. could be helpful for you to decide what is your next move
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doctorpot1
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crawled out of poverty, working towards FIRE!! (financial independence, retired early)
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mrbanana : Didi business doesn’t seems in good especially with covid worsening, the business less and less attractive, there isn’t positive sign of turning point for didi.
With cheap EV in china, it gets less reason people continue to use didi service while u can have ur own daily transport.
Just share my thoughts of didi, i could be wrong and happy to hear what makes u so excited with didi.
doctorpot1 OP mrbanana : oh I'm not excited about didi, but just putting out information so others can decide what they want to do. e.g. as there is still ADR fees, some might decide to sell to save on fees, some might decide it is ok.
For me as my position in this is a super small % of my portfolio, I couldn't be bothered already. it is like gambling already, praying they are forced to privatise or 2 years later they relist, or everything goes to 0. hahahaha
mrbanana doctorpot1 OP : Thanks for sharing.. doesnt really believe they will pay decent price
MonkeyGee : thanks for the info. Think Didi will trade high in the over counter market. This is another way to punish didi until they bow.
MonkeyGee mrbanana : 80% of china can't afford a car so taxis service is the own option
doctorpot1 OP mrbanana : some thoughts in my head. from what I understand going dark don't need shareholder approval one. so if didi is getting approval they are doing it to cover backside. some speculate that if they delist before 1 year, they will get sued and investor will demand them to take it private at ipo price. so is like reverse ipo like that. so i think they are worried investor sue them thus the EGM.
if investor don't agree to delisting, then they will be in a super tough spot. and if they try to buyback share below ipo price, there will be lawsuit.
so ya, that's why to me didi is just gambling already hahahahha
doctorpot1 OP MonkeyGee : just hope they can focus all their effort to fix the cyber security issue rather than trying to fix the delisting and political issues. quickly fix, quickly unban app, then continue make money. Dunno why go waste time do all this stupid pulling out of country, instead of fixing their tech -.-
MonkeyGee : tech issue might just be an excuse. tech issue could be fixed in one night. remove user identifiable information on main DB and encrypt user I'd. done
doctorpot1 OP MonkeyGee : wa bro, it is not that simple. I work in tech so I can share a bit. if the whole app is built using the id, changing it means it impact every single component plus most of such large organisation won't have 1 centralised DB but a data lake of many DB and systems. so all will get affected. if we were to just replace id with a hash so long the algo is there, it is super easy to do a reverse engineer to get back the id. then removing the personal info would also cause a lot of their ML to break, such as differentiated pricing based on the user or even trying to reach out to them for directed marketing (which is a lot more cost effective compared to general marketing).
plus I believe the map data is also one of biggest concern, cause I recall Google map in china is totally wrong. I remember they won't want the western country to have the accurate map of China cause with map can plan attacks. should have a lot a lot of things to fix.
but I agree with you, it should be fixable so long they devote enough resourcing.
MonkeyGee : wow, so I guess DIDI is done. thank for the insight.
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