RTTNews | Jul 23, 2021 12:20PM EDT

12:19 Friday, July 23, 2021 (RTTNews.com) - Chinese real estate company KE Holdings Inc. (BEKE) join the list of names to see its shares plunge 22% on the Street on Friday. While there has been no related news to move the stocks, it is believed that the new regulations put forward by the Chinese government is behind the fall.

After the listing of DiDi in the NYSE earlier in July, the government issued a widened cybersecurity regulation against the companies getting listed in the foreign markets. The company has lost 40% in the market since the start of the month.

The shares are trading at $29.92, down $8.03 or 21.16% since their previous close at $37.95 on Thursday. The shares opened at $32.65 in the morning and in the 52-week period, the shares have ranged between $26.15 and $79.40.

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