DiDi Global: Get Out While You Still Can

Nov. 15, 2022 1:57 PM ETDiDi Global Inc. (DIDIY)LYFT57 Comments

Summary

  • DiDi Global Inc. listed on the NYSE and then delisted within less than a calendar year (IPO June 30, 2021, delisting June 10, 2022).
  • Now trading over-the-counter, DiDi Global Inc.'s financials are no longer subject to audit. Additionally, pre-IPO reporting is spotty and the financials are volatile in ways that simply don't add up.
  • While some may believe that an appreciation event may occur due to its relisting in Hong Kong and concomitant repurchase of U.S.-listed shares, the incentives are strongly aligned against this.
  • As such, I think this stock represents a cautionary tale along the lines of Luckin Coffee and is now essentially worthless.

China Real estate Evergrande bankrupt

Marcos Silva

Overview

DiDi Global Inc. (OTCPK:DIDIY) is commonly known as the "Uber of China," although it also operates across other markets such as Australia, Mexico, Russia, Taiwan, and Chile. Didi is not diversified across other direct-to-consumer logistics businesses and is more comparable to Lyft, Inc. (

SeekingAlpha.com DIDIY 11.14.22

SeekingAlpha.com DIDIY 11.14.22

SeekingAlpha.com DIDIY 11.14.22

SeekingAlpha.com DIDIY 11.14.22

SeekingAlpha.com DIDIY 11.14.22

SeekingAlpha.com DIDIY 11.14.22

SeekingAlpha.com DIDIY 11.14.22

SeekingAlpha.com DIDIY 11.14.22

This article was written by

Equity long/short, value and growth investing.

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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