What's Next for Chinese Tech Stocks as Futures Tank?
. @GaryGensIer Today lots of American investors will be slammed in $DIDI a hot IPO pushed by Wall Street and cheered by financial media. $DIDI raised $4.4b Goldman & Co made $88.7m Nobody was there trying to protect "dumb money" investors. Nobody said "this will not end well"  Ant Group hasn't made the necessary changes to appease the government yet. Regulators said that the company has a "monopoly on information," which is a key concern for the nation at a time when big tech is holding on to troves of data. Recently, Chinese social app Soulgate backed out of its previously priced IPO. Executives said that the company received capital elsewhere and didn't need the fundraising that an IPO could provide. Given the broader circumstances of big tech in China, it's possible that Soulgate saw what was coming, especially considering it was planning a U.S. listing. To prioritize institutional funding might have been the most prosperous path for them.