Didi Global Inc. tumbled on Monday after the Financial Times reported that current and former employees of the firm have been banned from selling any of their stock indefinitely.
Shares of the Chinese ride-hailing giant fell 5.4% to close at $5.30 per share in New York trading. The move to block employees from unloading their shares comes just as early investors are able to sell stock on Monday with the end of Didi’s 180-day lock-up following its June initial public offering.
