Monday, December 27, 2021 12:30:05 UTC
Didi Chuxing has prevented current and former employees from selling shares in the company indefinitely, inflicting a new blow on the Chinese ride-hailing company.
This occurs on the heels of the company, which has been the subject of intense regulatory scrutiny since its IPO in New York, continues to lose value dramatically.
Didi Chuxing Technology Co., based in Beijing, is a Chinese ride-hailing company with over 550 million users and tens of millions of drivers.
According to those acquainted with the situation, the 180-day period during which current and former employees were not able to sell shares was intended to conclude on December 27, but the embargo has been prolonged without a new end date being specified.(More)
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All New York City taxis will soon be listed on the Uber app, as a ride-hailing alternative for customers.
The company plans to make sure passengers are charged approximately the same rates for taxi bookings as they are for rides through the UberX ride-hailing option. The company's goal is to make taxi bookings and UberX ride-hailing options cost around the same to their customers.
Uber shares advanced 5% on Thursday, while Medallion Financial ($MFIN), which finances taxi medallions for drivers in New York and elsewhere, is up 2% in premarket trade.