Meituan Dips Below 2018 IPO Price as Selloff Reaches Extremes
- Stock down 85% from all-time high on worry over outlook, macro
- ‘The market has been overly negative’ on Meituan, Goldman says
This article is for subscribers only.
A sustained, steep selloff in Meituan briefly drove the Chinese delivery giant’s stock below its 2018 initial public offering price.
The Hong Kong-listed shares, which have slid 85% from an all-time high three years ago, closed Wednesday below the IPO price of HK$69.