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China’s Meituan lost $82 billion in market cap amid rising competition, slowdown in food delivery business

by Editor January 10, 2024, 3:46 am 999 Views

China's Meituan lost $82 billion in market cap amid rising competition, slowdown in food delivery business

A food delivery courier for Meituan in Beijing, China, on Tuesday, Aug. 22, 2023. A surge in sales expected for Meituan may be a catalyst to its shares, which have outperformed peers as services spending turns out to be a rare bright spot amid deepening investor pessimism. Source: Bloomberg

Bloomberg | Bloomberg | Getty Images

Since the beginning of 2023, Chinese food delivery leader Meituan has lost a staggering $82 billion in market…

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