PDD Stock Heads for Worst Day Ever

PDD Holdings Inc (NASDAQ:PDD) stock is headed for its largest daily percentage drop ever, down 27.2% at $101.75 at last glance, after the China-based e-commerce name announced disappointing second-quarter results and warned of a revenue slowdown. Gapping to its lowest levels since November, the stock is down roughly 30% since the start of the year. Plus, PDD just moved below its 320-day moving average for the first time since May 2023. Options traders are blasting the Temu parent in response. So far, 133,00 ...