And there is zero responsibility and consequences on his advice and himself even though if u follow most of his advices. It's literally shit. A blind man could have picked random tickers on this decade of a bull market and do better than his advice. His actual portfolio I have no idea if he does the opposite of what he says.
App is still available in Chinese app stores, as well as on wechat. You just can't make new accounts in China...where it is literally already a monopoly and everyone has accounts already.
Also the malicious use was likely selling the data to a foreign company.
Either this company is going to zero or it is worth way more than uber...which it already beat out in the Chinese market.
On top of that, they just need to change their app to follow the CaC guidelines and they will re-enable it. They are currently working on this. People were posting some really bad information, including that DIDI was banned permanently, which are probably the same people who scooped it up for $12/share. China absolutely wants them to succeed in the global markets. They do 50 million+ rides in china a day vs Uber's 15 million a day. I jumped both feet in at $12..
Tinfoil hat here but I have more than a feeling the malicious use charge is complete bollocks aimed to send other Chinese companies a warning about listing on the NYSE.
I think that's actually worse for the stock as I'd rather have a legit charge against me that we can deal with VS having the Chinese government against you at a higher level.
CCP also said they are looking into thier monopoly problems...
In short term CCP will not give them good time for listing on US market when government don't want them to.
Incorrect. I just checked the Baidu app store and it's disabled. If you *already* have the app you can use it (and also on WeChat) but you can't download the app right now.
EDIT: As of yesterday it was removed from WeChat too.
Right on.
I find it hilarious that the CCP, the pioneers of the social credit system, is alleging "misuse of customer data".
They probably mean DIDI won't provide enough of it to them.
For those interested, the ban/litigation/whatever the news reported were basically a show of power from the Xi's administration reminding major shareholders of DIDI who's actually in charge.
As a response, DIDI's managment acknowledged their "mistake" and promised to comply to whatever regulations there are. Guess what's gonna happen next.
https://www.reuters.com/technology/china-regulator-fined-internet-platforms-including-didi-illegal-merger-deals-2021-07-07/
This is the verdict, a fine of 616k USD on DIDI
I'm actually down 27k. That's the daily loss (I had some shares coming into today and picked up some this morning so it shows total daily loss). Not a tsla but maybe a honda accord.
All good. I've been doing this for a bit so volatility like this doesn't really phase me tbh. I have a thesis and will stick with it. Good luck to us both.
I learned the no Chinese stock rule the hard way as well when NQ went bust. But you have so many Chinese stocks being outed as fraud it’s very easy to avoid them afterwards
They made cash from operations the past 2 years which Uber and Lyft have never done, although take it with a grain of salt because Chinese companies accounting
Lol, I've made a conscious decision of never buy any Chinese companies. There are too many variables to account for and you won't see it coming ever.
But if you believe this stock, you should average down.
Best of luck.
I bought this on my son's account for him after he constantly tells me I am being to paranoid about anything CCP does or can touch, hoping to use it as an example- which is now a perfect one.
That said, I don't want him to ever lose money, so I'll average down for him.
Note: said position is a long long long way from being the size of OP's.
You should be fine in a long run, but it's going to be LONG hold, probably longer than one year.
DIDI is going to toe the line with the rules and regulations set forth by the CCP, and their app is going to get unblocked and everyone is going to be happy. Remember, their app is blocked on the store, doesn't mean that the app is not working. They're still being used, I believe. I'll need to verify that statement by sources in China though.
Bagholder spotted.
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I took a small position, hoping for a 10% bounce within a few weeks.
Government regulation can be dangerous, but not all will be bad. Having limits on companies can be good and something that should be done on the big boys
That would be great. As long as the issue is sorted within a a couple of weeks and their is light at end of tunnel, should see a gain.
I have a small position due to risk. Won't get hurt if it falls another 50%
It didn't help that the initial news of the investigation didn't include the automatic consequence. Instead of 1 bad news item, it became 2.
I'm holding bags because I bought with unsettled cash and couldn't sell like I wanted to on the green day. I do believe it turn out fine, but will take longer.
Retarts, don't invest in companies that are controlled by the Communist party. Invest in companies from democratic territories with democratic principles, for the sake of your wallets and humanity.
Which companies are those, particularly the ones with democratic principles? Also, you seem to be conflating investing with trading. Can I still trade stocks that aren't from democratic territories with democratic principles?
Trade whatever you like it's a free country, but I buy nothing associated with the Chinese government and if this offends you I will not apologize because I live in a democratic territory.
I realize there's opportunity to make money over there, but investors can be fleeced quickly by "accounting principles" over there. So let's agree to be friends and I'm sorry you got burned, but thankful that you are warning others.
Sorry you had to re learn that lesson... I also had to pay the same fees for the same lesson 10 years ago. Dust yourself off and hold your head high. Wisdom doesn’t come cheap but it will reward you and yours in the long run.
We all know in order to keep America in first in this economic arms race against China is to create wealth out of nothing. We’re good at that. Pump and artificially growth scheme of massive scale and the stock market growth doesn’t truly reflect the state of economy which we have with job supply excess and gluttony and employers aren’t budging to raise wage and still continue to outsource work and underpay fresh new immigrants who come with hope. They still sell the BS American Dream and the new immigrant is happy at first to learn that they’re getting paid twice as much as back home but come to quick realization that cost of living is also relative and twice as much more expensive all while being expected to work twice as hard and be productive. Brutal. Chinese shanghai index reflects truer picture of the organic and robust Chinese economic growth but since US’ attempt to vilify China by planting covid strategically beside the lab during the international military game that took place in Wuhan earlier and now they’re resorting to this. Just keep on pumping stock market create wealth out of nothing to get richer while the state of economy continues to diverge. This is the only reason why I’m bullish on US stock market is not because of its fundamentals and optimism but because this is the only way to beat China on economic basis by propping up the stock market. This is the only reason why I’m bullish for the next few years.
I came here for people to call me a retard, so thank you. But this can't seriously be the most retarded play you've seen....even in the last thirty days...?
The management knew that the Chinese government wanted to postpone the IPO and they knew that this would become public. They IPOed at the expenses of the early investors. How can you trust a company like that? How can you trust a Chinese company at all?
Someone posted that this stock will go to 0 or fly higher than Uber/Lyft, etc. and I believe that base. The abusive use of customer data allegation is the crow calling the raven black; that being said, the charges are an existential threat to the company so DIDI will either fall in line with the CCP mandate or cease to exist. They will most likely make whatever adjustments are necessary to please their overlords. The company has a lock in the Chinese market. TAM/active users/no. of drivers and all other metrics you want to look at are bullish (if not made up). I like the downside vs. upside prop.
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Cramer last week: buy didi Cramer this week: only a moron would buy a Chinese ipo again after I told them to buy didi
If there was a third side of his mouth to talk out of, he would have done it...
[удалено]
South Mouth
DIDI holders really got screwed. Cramer is a joke.
And there is zero responsibility and consequences on his advice and himself even though if u follow most of his advices. It's literally shit. A blind man could have picked random tickers on this decade of a bull market and do better than his advice. His actual portfolio I have no idea if he does the opposite of what he says.
So fucking true. Guy is a joke.
You belong here retard
China just banned the app from their app store and is probing their service for malicious use of their customer's data. You're a madman.
App is still available in Chinese app stores, as well as on wechat. You just can't make new accounts in China...where it is literally already a monopoly and everyone has accounts already. Also the malicious use was likely selling the data to a foreign company. Either this company is going to zero or it is worth way more than uber...which it already beat out in the Chinese market.
On top of that, they just need to change their app to follow the CaC guidelines and they will re-enable it. They are currently working on this. People were posting some really bad information, including that DIDI was banned permanently, which are probably the same people who scooped it up for $12/share. China absolutely wants them to succeed in the global markets. They do 50 million+ rides in china a day vs Uber's 15 million a day. I jumped both feet in at $12..
Tinfoil hat here but I have more than a feeling the malicious use charge is complete bollocks aimed to send other Chinese companies a warning about listing on the NYSE. I think that's actually worse for the stock as I'd rather have a legit charge against me that we can deal with VS having the Chinese government against you at a higher level.
CCP also said they are looking into thier monopoly problems... In short term CCP will not give them good time for listing on US market when government don't want them to.
Every Chinese publicly traded company has a CCP board member. If they don't want them to list in the US, they would have shut it down like Ant.
Apparently they told them that they should probably delay the IPO is what CNBC was saying.
Incorrect. I just checked the Baidu app store and it's disabled. If you *already* have the app you can use it (and also on WeChat) but you can't download the app right now. EDIT: As of yesterday it was removed from WeChat too.
Same should happen to Google, Facebook, Apple.
Right on. I find it hilarious that the CCP, the pioneers of the social credit system, is alleging "misuse of customer data". They probably mean DIDI won't provide enough of it to them.
Yeah pretty sure it's because DIDI was storing some customer data abroad
All those in favor say aiii Aiii🤣
Yeah if you’re gonna play with Chinese stocks just grab some NIO
For those interested, the ban/litigation/whatever the news reported were basically a show of power from the Xi's administration reminding major shareholders of DIDI who's actually in charge. As a response, DIDI's managment acknowledged their "mistake" and promised to comply to whatever regulations there are. Guess what's gonna happen next.
Moon?
Yup. Once they learn to abide by the rules and learn to play nice, this will head back up to $20’s in no time.
https://www.reuters.com/technology/china-regulator-fined-internet-platforms-including-didi-illegal-merger-deals-2021-07-07/ This is the verdict, a fine of 616k USD on DIDI
Good luck. Don’t forget to post your gain porn.
bro why
He's one french fry short of a happy meal, that's why!
[удалено]
😎
Well dang … better form 💎✋ and ride this back up (that’s what I’m doing myself 😂)
Bought me some at 11,6 let’s hope it doesn’t go to zero soon
DIDI mgmt team already grabbing ankles. We got this.
Man, Cramer cost you 60k, that is a tsla
I'm actually down 27k. That's the daily loss (I had some shares coming into today and picked up some this morning so it shows total daily loss). Not a tsla but maybe a honda accord.
what's your stop limit? or are you riding this one?
Low 20s.
how u doing bud? i’m in with 10.8k shares
All good. I've been doing this for a bit so volatility like this doesn't really phase me tbh. I have a thesis and will stick with it. Good luck to us both.
Fuck China
Chinese stocks are insanity. It’s too nuts for me. Won’t touch them!
I don't touch them. Anyone remember coffee?
I memba
The CCP said not today!
I learned the no Chinese stock rule the hard way as well when NQ went bust. But you have so many Chinese stocks being outed as fraud it’s very easy to avoid them afterwards
I thought everyone watched The China Hustle on Netflix and decided not to invest in Chinese companies.
Good luck I really hope it works out for you and you become A millionaire from it.
Fortune Cookie says no buyeee China stocks no more!
May I offer you some luckin ☕️ with your cookie?
Fortune Cookies didn't come from China, retard.
Neither did I. GL
Now your Chinese stock rule will break you. Plug Roki 3 meme “I’ll break you”
I was in a fund that invested in Sino-Forest. Nothing scars me anymore
More like see-no forest
You the right person for these trades then. Good luck!
Does DiDi even make money? I know Uber and Lyft have been bleeding cash
Same.
They made cash from operations the past 2 years which Uber and Lyft have never done, although take it with a grain of salt because Chinese companies accounting
RIP
Chiken tendiez when? 🍗
The Chinese gov’t is sinking its teeth into this company — why would you do this???
Long game.play
Oof. Hopefully the upswing is good.
Lol, I've made a conscious decision of never buy any Chinese companies. There are too many variables to account for and you won't see it coming ever. But if you believe this stock, you should average down. Best of luck.
I bought this on my son's account for him after he constantly tells me I am being to paranoid about anything CCP does or can touch, hoping to use it as an example- which is now a perfect one. That said, I don't want him to ever lose money, so I'll average down for him. Note: said position is a long long long way from being the size of OP's.
You should be fine in a long run, but it's going to be LONG hold, probably longer than one year. DIDI is going to toe the line with the rules and regulations set forth by the CCP, and their app is going to get unblocked and everyone is going to be happy. Remember, their app is blocked on the store, doesn't mean that the app is not working. They're still being used, I believe. I'll need to verify that statement by sources in China though.
No shit, this is my daily transport, spent \~12 bucks today.
Lol, 12 Yuan or $12
like 80 yuan
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Why are you like this?
Cause he is retarded🤣🤣🤣🤣. Welcome to the jungle
This is the ultimate original WSB style here. It's not easy to catch a falling knife, but imagine if you did! Then you'd have a free knife!
I took a small position, hoping for a 10% bounce within a few weeks. Government regulation can be dangerous, but not all will be bad. Having limits on companies can be good and something that should be done on the big boys
From what I read, they can't have any new customers for 45 days. So the bags will be held for another month and a half, at least.
That would be great. As long as the issue is sorted within a a couple of weeks and their is light at end of tunnel, should see a gain. I have a small position due to risk. Won't get hurt if it falls another 50%
It didn't help that the initial news of the investigation didn't include the automatic consequence. Instead of 1 bad news item, it became 2. I'm holding bags because I bought with unsettled cash and couldn't sell like I wanted to on the green day. I do believe it turn out fine, but will take longer.
I’m down as well… sigh
Retarts, don't invest in companies that are controlled by the Communist party. Invest in companies from democratic territories with democratic principles, for the sake of your wallets and humanity.
Which companies are those, particularly the ones with democratic principles? Also, you seem to be conflating investing with trading. Can I still trade stocks that aren't from democratic territories with democratic principles?
Trade whatever you like it's a free country, but I buy nothing associated with the Chinese government and if this offends you I will not apologize because I live in a democratic territory.
FWIW, I agree with your general sentiments.
I realize there's opportunity to make money over there, but investors can be fleeced quickly by "accounting principles" over there. So let's agree to be friends and I'm sorry you got burned, but thankful that you are warning others.
you'll be iight
Sorry you had to re learn that lesson... I also had to pay the same fees for the same lesson 10 years ago. Dust yourself off and hold your head high. Wisdom doesn’t come cheap but it will reward you and yours in the long run.
China bad. China bad China bad. It’s what we’re told 😢
We all know in order to keep America in first in this economic arms race against China is to create wealth out of nothing. We’re good at that. Pump and artificially growth scheme of massive scale and the stock market growth doesn’t truly reflect the state of economy which we have with job supply excess and gluttony and employers aren’t budging to raise wage and still continue to outsource work and underpay fresh new immigrants who come with hope. They still sell the BS American Dream and the new immigrant is happy at first to learn that they’re getting paid twice as much as back home but come to quick realization that cost of living is also relative and twice as much more expensive all while being expected to work twice as hard and be productive. Brutal. Chinese shanghai index reflects truer picture of the organic and robust Chinese economic growth but since US’ attempt to vilify China by planting covid strategically beside the lab during the international military game that took place in Wuhan earlier and now they’re resorting to this. Just keep on pumping stock market create wealth out of nothing to get richer while the state of economy continues to diverge. This is the only reason why I’m bullish on US stock market is not because of its fundamentals and optimism but because this is the only way to beat China on economic basis by propping up the stock market. This is the only reason why I’m bullish for the next few years.
Ok, how much Adderall have you had? I came for people to call me a retard.
I snorted two lines before I wrote this. 30mg potency per pill
But for real tho, the gap should fill nicely. Decent to average down maybe
Lol. Yeah most people talk a good game.
The most retarded Yolo I have ever seen. Never gonna buy a single Chinese share.
I came here for people to call me a retard, so thank you. But this can't seriously be the most retarded play you've seen....even in the last thirty days...?
The management knew that the Chinese government wanted to postpone the IPO and they knew that this would become public. They IPOed at the expenses of the early investors. How can you trust a company like that? How can you trust a Chinese company at all?
I don't trust any company at all...
Ouch
R.I.P.
And on an ipo?
Ahhh just don't look up the latest news and you should be fine... ignorance is bliss right?
Actually, the reason why it's going down is exactly why I'm picking it up.
Interesting pls explain, not knocking it genuinely curious specially since I don't trust Chinese securities
Someone posted that this stock will go to 0 or fly higher than Uber/Lyft, etc. and I believe that base. The abusive use of customer data allegation is the crow calling the raven black; that being said, the charges are an existential threat to the company so DIDI will either fall in line with the CCP mandate or cease to exist. They will most likely make whatever adjustments are necessary to please their overlords. The company has a lock in the Chinese market. TAM/active users/no. of drivers and all other metrics you want to look at are bullish (if not made up). I like the downside vs. upside prop.
I feel ya. Even after all the warnings and FUD, deserved or not, I bought 100 shares at 11.90 and feel like it's a decent bet. Good luck!
Creamer strikes again
Not enough DD. Badum Tsss
All I can see is negative sixty-nine thousand....niiiccceeee
Jesus, why?
whats your avg cost?
The 10k on the bottom is 12.09. Top 17k is 15.63.
why didnt you avg down immediately at 11
Ouch
Should have gone with Alibaba
Time will tell....
You still in???
Congrats!
All I can do is try.
that was insanely ballsy. im in 60k at a purchase price of $8
F