Chinese ride-hailing giant DiDi Chuxing has taken investors on a roller coaster ride since it became a target of an “unprecedented” clampdown by Beijing just days after its debut on the New York Stock Exchange. The company went public on June 30, raising $4.4 billion from global investors in one of the largest U.S. share offerings of the past decade, which valued the company at around $70 billion. Within just 48 hours after its debut, however, the Chinese communist regime went after DiDi, ordering a cybersecurity review of the company. DiDi’s shares have dropped more than 40 percent since its initial public offering (IPO), which priced the shares at $14. And the news is only getting worse as Beijing is now reportedly weighing serious penalties for the ride-hailing company. Bloomberg on July 22 reported that Chinese regulators were considering “serious, perhaps unprecedented, penalties,” which include a forced delisting or withdrawal of the company’s shares …
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