Meituan's stock price plunges after CEO posts Chinese poem

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

SINGAPORE -- 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 possible criticism of the Chinese government. Authorities are investigating the company over allegations of anti-monopolistic behavior, part of a wider crackdown on technology companies. Meituan’s stock price lost 5.3% on Tuesday and plunged as much as 9.8% on Monday after its CEO Wang Xing posted the classical Tang dynasty poem, which criticized Emperor Qin Shi Huang for silencing his critics by burning books. Wang's 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.