Zaslal: út 24. srpen, 2021 11:37 Předmět: Didi shares plunge amid China tech crackdown
China's Didi Chuxing's share price has tumbled amid a crackdown on tech firms listing overseas.
Shares in the ride-hailing company plunged nearly 20% the first day of US trade after the 4 July break.
It comes after China's internet regulator ordered online stores not to offer Didi's app, saying it illegally collected users' personal data.
The tech giant began selling shares on the New York Stock Exchange just last week.
At one point on Tuesday, its share price slid by 25% to $11.58, well below the $14-per-share price offered at its initial public offering (IPO).
Its removal from app stores does not affect existing users, but will stop new users registering on the country's biggest ride hailing platform.
Didi, a platform similar to Uber or Lyft, gathers vast amounts of real-time data every day, which is used to analyse traffic patterns and for autonomous driving technology. pg
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The Cyberspace Administration of China (CAC) announced last week it was investigating the firm to protect "national security and the public interest".
"After checks and verification, the Didi Chuxing app was found to be in serious violation of regulations in its collection and use of personal information," it said in a statement.
"The company will strive to rectify any problems, improve its risk prevention awareness and technological capabilities, protect users' privacy and data security, and continue to provide secure and convenient services to its users," Didi said in a response on Monday.
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