Temu owner PDD’s stock rout reflects ‘shaken investor confidence’, analysts say
A 28.5 per cent stock price plunge on Monday that wiped US$55 billion off the valuation of PDD Holdings, the owner of shopping apps Temu and Pinduoduo, reflected “shaken investor confidence” in its future after top management dumbfounded investors by playing down profit prospects, analysts said. Nasdaq-listed PDD, a rival of Alibaba Group Holding in … Read more
