RTTNews | Jul 6, 2021 11:31AM EDT

11:31 Tuesday, July 6, 2021 (RTTNews.com) - Nearly a week after its $4.4 billion listing on the Street, DiDi Global Inc. (DIDI) plunged below its IPO price of $14 on Tuesday. The Chinese ride service dropped 23% after the native watchdogs removed the company from the app stores.

From the very first day of the company getting listed on the US stock exchange, news of a government crackdown on the company's handling of user data has been under strict scrutiny. The Cyberspace Administration of China has already asked the company to remove its app from all the app stores citing data-breach risks. It is also being said that the company was advised to delay its listing in the American market.

The company is presently dealing hands at $12.03, down $3.50 or 22.54% from its closing at $15.53 on the previous day of trading. The shares opened at $11.78 and in the 52-week period, the shares have ranged from $11.58 to $18.01.

Read the original article on RTTNews ( https://www.rttnews.com/3207240/didi-plunges-23-after-getting-its-application-removed-from-app-stores.aspx)

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