Why Are DiDi Shares Plummeting Today?

China's Transport Ministry would intensify a crackdown on illegal behavior in the ride-hailing industry, Reuters reports.
The regulator would deal with online platforms that still use non-compliant vehicles and drivers.
The announcement follows the country's cybersecurity probe on DiDi Global Inc DIDI.
Recently it was reported that China planned to take DiDi under its control.
Additionally, the Cyberspace Administration of China had shut down and banned 1,793 so-called self-media accounts on online platforms since Aug. 27, after a probe into the illegal release of financial information and badmouthing of financial markets.
The accounts closed include three with over a million followers and removed over 47,000 pieces of "harmful information."
Price Action: DIDI shares traded lower by 8.15% at $8.90 on the last check Wednesday.