Didi denies it considered to go private after earlier report sends the stock soaring

▤ Summary

The original Journal report sent Didis stock soaring nearly 40% during premarket trading Thursday, though it pared gains after the companys denial. Days later, however, the stock dropped after Chinese authorities announced a cybersecurity review of the business. Earlier this month, officials announced measures to increase regulation of cross-border data flows, adding scrutiny to companies wishing to list shares in a foreign country. Last fall, Ant Group delayed its IPO in Shanghai and Hong Kong after Chinese regulators interviewed its top executives. Chinese e-commerce giant Alibaba received a $2.8 billion fine for allegedly abusing its market dominance.

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