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Moomoo Learn SG wrote a post · May 23, 2022 07:08

Didi is delisting in New York.

Shareholders of ride-hailing group Didi Chuxing will on Monday vote on delisting from the New York Stock Exchange
Last June, shortly after its US$4.4 billion initial public offering (IPO) in the U.S., $DiDi Global (Delisted) (DIDI.US)$ became the subject of a series of investigations at home.
Unable to sign up new users, Didi's revenue has declined and losses have increased while redundancies have added a weakened morale.
Some of the biggest investors in Didi like $TENCENT (00700.HK)$, $Apple (AAPL.US)$ , and $Alibaba (BABA.US)$ vote in favor of a delisting.
Source: KrASIA
Source: KrASIA
What happens if you own a delisted stock
Once a stock is delisted, the company's shares can keep trading through a process known as"over-the-counter."

Delisting is not the end
Last summer, Chinese coffee chain operator $Luckin Coffee (LKNCY.US)$ was delisted from the Nasdaq after the company revealed the fabrication of 2.2 billion yuan ($340 million) in sales. The stock plunged to a low of 95 cents a share in June 2020.
But shares rose even after going "over-the-counter" and closed at $12.92 each overnight.
Source: Pandaily
Source: Pandaily
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Didi is delisting in New York.
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