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Meituan shares drop 7% after CEO deletes post against China: Report
short by Aishwarya Awasthi / on Monday, 10 May, 2021
Chinese e-commerce platform Meituan's stock dropped to a seven-month low after its CEO Wang Xing shared and deleted a poem on social media that some interpreted as a veiled criticism of China's government, Bloomberg reported. Its shares fell almost 10% in Hong Kong before closing 7.1% lower. Xing said he had posted the poem in reference to the company's competitors.
read more at BloombergQuint