Fireworks

The Didi drama and another OPEC+ impasse provided for some post-US holiday fireworks on Tuesday. Shares of the Chinese ride-hailing company plunged as much as 30% on the heels of Beijing's regulatory crackdown. More than $20 billion in market value evaporated as the stock traded through its $14 IPO price. According to The Wall Street Journal, Beijing asked Didi to delay the US IPO. Didi went ahead with it anyway. "Weeks before Didi went public in the US, China's cybersecurity watchdog suggeste

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One thought on “Fireworks”

I’m surprised US production has not picked up much given the oil price increase – remember all the talk about how the US were the “swing producers,” … ?