DIDI - DiDi Global surges 50% as Beijing looks to end cybersecurity probe

The Chinese ride hailing giant DiDi Global (NYSE:DIDI) surged more than 50% during Monday’s premarket trading as the firm received a jolt after Chinese regulators announced that they are preparing to end their cybersecurity probe on the stock. The end of the investigation by Beijing will allow DIDI’s ban on adding new users to their platform to be lifted. Additionally, the Wall Street Journal reported that people familiar with the situation said the ban can be lifted as early as this week. The outlook on the state of the Chinese economy has seen better days and placing the pause button on the probe can shift some positive attention towards DIDI and the status of the Chinese markets. DIDI currently is up 53.3% in early trading sending the stock to $2.84 a share. Bigger picture, the company still trades lower on the year by 64.7% and is off from its IPO high of $18.01

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DiDi Global surges 50% as Beijing looks to end cybersecurity probe