Why PDD Holdings Stock Plunged Today
PDD(PDD) The Motley Fool·2024-08-26 16:30The Chinese e-commerce giant whiffed on revenue expectations.Shares of PDD Holdings (PDD -29.70%) were tumbling today after the Chinese e-commerce company and owner of Pinduoduo and Temu posted disappointing revenue growth in the second quarter and offered a downbeat commentary on the quarters ahead.Shares were down 28% as of 11:12 a.m. ET on the news. PDD runs into a wallPDD had been bucking the trend in Chinese e-commerce, continuing to put up phenomenal growth while peers like Alibaba and JD.com have str ...