- Singapore’s Ryde experiences 80% stock plunge on NYSE
- Experts cite micro-cap volatility and algorithmic trading as factors
- Case highlights risks for small tech firms in U.S. markets
From boom to bust
Ryde, Singapore’s ride-hailing startup, saw its stock price nosedive over 80% on the New York Stock Exchange.
The dramatic fall came after an equally unexpected surge earlier in the month.
Micro-cap rollercoaster
Experts attribute the volatility to Ryde’s status as a micro-cap stock.
Low liquidity and less regulatory scrutiny make such companies vulnerable to sudden price swings, often driven by momentum-based traders and algorithms.
Not alone in the tech tumble
Ryde’s plunge mirrors similar patterns seen in other Asian tech firms like Grab and Mobile-health Network Solutions after their U.S. listings.
It highlights the challenges faced by ride-hailing companies in achieving profitability.
