Ryde reaffirms business fundamentals amidst share price volatility

They said that they remain focused on doing long-term growth strategy.

Ryde Group Ltd. (Ryde) has addressed the recent volatility in the company’s share price, stating that they are not aware of any operational developments or other material events that may have caused the decrease and that they remain focused on executing its long-term growth strategy.

“The recent share price fluctuations do not reflect the progress we have made since our NYSE listing in March 2024. The key management and shareholders have not divested any of their shares and remain confident in the Company’s future,” said Terence Zou, group CEO & founder of Ryde. 

Zou also highlighted several key developments since their NYSE listing in March, which include: an AI-powered app redesign in May; a dual listing on the Frankfurt (FSE) and Stuttgart (XSTU) Stock Exchanges under the symbol D0S in June; and a healthcare partnership with a telehealth care provider.

Furthermore, in July, he also said that the company launched Ryde Empowers, designed to nurture and support local talent across various fields. Singaporean professional tennis player Sarah Pang has joined them as the first champion of the Ryde Empowers programme.

In August, they also announced a partnership with Singlife, providing accident benefits to all Ryde passengers and driver-partners.