Why PDD Holdings Stock Tumbled by 4% Today
PDD(PDD) The Motley Fool·2024-08-27 21:44The company suffers the aftermath of a disappointing quarter.Even though PDD Holdings (PDD -4.09%) had little proprietary news to report on Tuesday, its stock was affected by the latest analyst moves. Several pundits tracking the Chinese e-commerce incumbent cut their price targets a day after its latest earnings release -- with one even downgrading her recommendation -- leading to a sell-off by Mr. Market.PDD's American depositary receipts (ADRs) ended the day more than 4% lower in price, contrasting unfav ...