Meituan’s stock price plunges after CEO posts Chinese poem

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SINGAPORE (AP) — Shares in Meituan, China’s largest food delivery platform, have tumbled after its CEO posted _and then deleted _ an ancient poem in a move widely seen as criticism of the Chinese government. Authorities are investigating the company over allegations of anti-monopolistic behavior, part of a wider crackdown on technology companies. Last week, Meituan’s CEO Wang Xing posted a classical Tang dynasty poem that criticized Emperor Qin Shi Huang for silencing his critics by burning books. His post was seen as a veiled comparison of the ruthless ancient emperor and China’s current authoritarian government. Investors worried over how Chinese authorities might react have been selling their holdings of Meituan’s stock.  

The post Meituan’s stock price plunges after CEO posts Chinese poem appeared first on WEEK.

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