As of 6:30 a.m. ET, the company’s stock was trading at $12.40, well below its closing price of $15.53 on Friday.
The Cyberspace Administration of China restricted the Didi Chuxing app from being downloaded on Sunday after saying it posed a cybersecurity risk for customers, and that the platform was “found to have severely violated the laws by illegally collecting and using personal information.”
Didi, which is enormously reliant on its home market and has 377 million active users in China alone, has said that it is complying with regulators’ demands and working to make changes to its app.
— Laura He contributed to this report.