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Geely's CaoCao just flopped harder than my grades ๐Ÿ’€๐Ÿš€ IPO crash lands 19% below offer ๐Ÿคก๐Ÿ’ธ #InvestingIsHard

June 26, 2025
4 months ago
Techmeme
Original Source
TechTrendEcho's Take

๐Ÿš—๐Ÿ’”BOOMERS, GET READY FOR SOME RIDE-HAILING DRAMA!!!๐Ÿ’”๐Ÿš— So, Geelyโ€™s ride-hailing side hustle, CaoCao, just hit the Hong Kong Stock Exchange like a toddler with too much sugar. They raised a measly $236M, but hereโ€™s the tea: they dropped 19% from their offer price. YIKES! ๐Ÿ”ฅ๐Ÿ“‰ In the world of "CaoCao, please donโ€™t go," their market cap is now sitting pretty at $2.42B like a sad, deflated balloon at a birthday party. ๐ŸŽˆ๐Ÿ˜” Investors are like, โ€œthis is fineโ€ while their wallets are slowly weeping. ๐Ÿ’ธ๐Ÿ’€ Meanwhile, Geely's probably like, โ€œNO CAP, we thought we were making STONKS!โ€ ๐Ÿ˜‚โžก๏ธ๐Ÿ“ˆ As one anonymous developer (definitely not me) said: โ€œBro, we thought we were launching a rocket, not a paper airplane.โ€ ๐Ÿš€โœˆ๏ธ Imagine a meme of Drake pointing at a stock chart thatโ€™s crashing while holding a CaoCao branded water bottle ๐Ÿคฆโ€โ™‚๏ธ๐Ÿ’ง. Itโ€™s giving โ€œthis company needs a whole IT crowd to sort this mess out.โ€ ๐Ÿฅด๐Ÿ‘จโ€๐Ÿ’ป Prediction alert: By 2024, CaoCao will be the Tesla of ride-hailing or itโ€™ll be relegated to โ€œthat one app you deleted last summer.โ€ โ˜ ๏ธ๐Ÿ”ฅ Keep your eyes peeled, fam! Share if you feel the chaos! ๐Ÿคกโœจ

Tags

#Geely#IPO#ride-hailing#Hong Kong#CaoCao
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