News Analysis China’s online ride-hailing giant Didi Chuxing (Didi) announced on Dec. 2 it was delisting from the New York Stock Exchange and moving to Hong Kong, after being placed under four months official investigation. Didi’s withdrawal is linked to China’s secrecy toward data, as well as new stringent U.S. regulations involving Chinese companies on…
Other Chinese Firms May Follow Didi Out of Wall Street Amid Beijing Crackdown
Some Hedge Funds May Have Lost Millions on Bets on China’s Didi Global
December 9, 2021
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Business & EconomyChinaChina Business & EconomyCompaniesDidihedge fundsMarketsNew York Stock Exchange
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TORONTO—Several hedge funds may have been bruised by bets on Didi Global Inc., filings showed after the shares tumbled since the Chinese ride-hailing company announced plans to withdraw from the New York Stock Exchange. Didi’s shares have tumbled 56.8 percent from their June 30 IPO price. The slide accelerated after the company said on Friday…
Didi’s New York Exit a Further Blow to Chinese Listings in US: Bankers and Advisers
December 7, 2021
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Business & EconomyChinaChina Business & EconomyCompaniesDidiHK BusinessHong KongMarketsNew York Stock ExchangeU.S. government
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HONG KONG/SINGAPORE—Ride-hailing giant Didi Global’s plan to withdraw from the New York stock exchange may create an even deeper chill after this year’s drop-off in Chinese firms’ listings in the world’s most liquid market, bankers and advisers said. Chinese listings in the United States have fallen sharply since Didi debuted in New York on June…
Didi’s New York Exit a Further Blow to Chinese Listings in US
December 7, 2021
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Business & EconomyChinaChina Business & EconomyCompaniesDidiHK BusinessHong KongMarketsNew York Stock ExchangeU.S. government
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HONG KONG/SINGAPORE—Ride-hailing giant Didi Global’s plan to withdraw from the New York stock exchange may create an even deeper chill after this year’s drop-off in Chinese firms’ listings in the world’s most liquid market, bankers and advisers said. Chinese listings in the United States have fallen sharply since Didi debuted in New York on June…
DiDi Delisting From NYSE, Applying to List in Hong Kong Instead After Buckling Under Pressure From Chinese Regulators
Chinese ride-hailing giant DiDi is delisting from the New York Stock Exchange (NYSE) and applying to list in Hong Kong instead, just months after making its debut in the United States, the company announced Friday. “Following careful research, the company will immediately start delisting on the New York stock exchange and start preparations for listing in…
NYSE-Owner ICE’s Quarterly Profits Top Expectations, Shares Hit Record
October 29, 2021
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Business & EconomyBusiness ColumnistsCompaniesIntercontinental Exchange IncMarket WatchMarketsNew York Stock ExchangeQuarterly Profits
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NEW YORK—Intercontinental Exchange Inc on Thursday reported a quarterly profit that topped Wall Street expectations, helped by strong gains in its mortgage technology business and robust demand for its interest rate and energy hedging products. The New York Stock Exchange owner earned $1.30 per share in the quarter ended Sept. 30, 8 cents above the…
US Futures-Based Bitcoin ETF Rises in First Day of Trading, Bitcoin Nears Record
October 19, 2021
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bitcoinBusiness & EconomyCompaniescryptocurrencyInvestmentMarketsNew York Stock ExchangeNYSEUSUS News
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NEW YORK—The first U.S. bitcoin futures-based exchange-traded fund (ETF) began trading on Tuesday, sending bitcoin to a six-month high and just off its all-time peak, as traders bet the ETF could boost investment flows into cryptocurrencies. The ProShares Bitcoin Strategy ETF closed up 2.59 percent at $41.94 in its first day of trading, with around…
US Investors Hit by Beijing as Newly Listed Didi Could Face ‘Unprecedented’ Sanctions
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…
Exchange Repeatedly Halts Gamestop Trading as Price Surges Past $100
The New York Stock Exchange repeatedly halted trading in the stock of the video game retailer GameStop on Feb. 25 as its price surged above $100 per share in overnight trading. The stock has been favored by small investors who congregate on the Reddit forum r/Wallstreetbets. As of 10 a.m., the exchange blocked trading of…
NYSE Chief Warns of Potential New York Exit If Stock Transfer Tax Is Imposed
The New York Stock Exchange threatened on Tuesday to leave New York if lawmakers approve a proposal to tax stock sales. “The New York Stock Exchange belongs in New York. If Albany lawmakers get their way, however, the center of the global financial industry may need to find a new home,” Stacey Cunningham, the president of…
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