DiDi Global Inc DIDI is trading lower Friday morning after China announced it will be performing a cybersecurity review of the China-based ride-hailing service company.
According to an announcement on the Cyberspace Administration of China's website, new user registration will be halted for the duration of the cybersecurity review.
The announcement comes just days after the company priced its IPO at $14 and made its debut on the New York Stock Exchange.
Related Link: China's Uber Didi Chuxing Prices Upsized IPO At $14 Per Share; Trading Begins Today
Didi Global operates a mobility technology platform that focuses on shared mobility, auto solutions, electric mobility and autonomous driving.
Price Action: DiDi Global closed up nearly 16%. It was up another 5% in premarket trading today before the announcement.
At last check Friday, the stock was down 9.09% at $14.91.
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