Shares of Full Truck Alliance (NYSE: YMM) are tumbling today after several significant moves by the Chinese government against China-based companies.
Full Truck Alliance, which is a China-based tech company that offers a platform for trucking services, saw its stock fall as much as 13.5%. As of 11:35 a.m. EDT, it was down 8.2%.
There are two likely reasons why Full Truck Alliance's stock is slumping today. The first is that investors are reacting to recent comments by the Chinese government against the China-based ride-hailing company DiDi Global . Bloomberg reported last week that the government was considering "unprecedented" penalties against DiDi because it was unhappy with the company's recent decision to go public in the U.S.
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Here's Why Full Truck Alliance Stock Is Falling Today