MCHI - DiDi: Ben Graham Style Value Stanley Druckenmiller Style Trade

• DiDi still has majority share of the ride-hailing market in China but trades currently with a negative enterprise value whilst having other monetizable investments.
• DiDi’s 7.5% stake in Grab could be sold after the 30 May lock-up expiry to further boost its net cash position.
• If DiDi continues to reduce its operating loss, it may have up to 18 months to 2 years of cash runway currently.
• DiDi’s NYSE delisting now approved, could bring an upcoming resolution to the regulatory probe of DiDi.
• Positive news flow could see a surge in stock price, making DiDi worth looking at for a trade.

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