Why PDD Holdings plunged 25.4% in August
PDD(PDD) The Motley Fool·2024-09-09 07:26Despite blowout profits, the parent company of Temu gave highly cautious guidance on its earnings report.Shares of Chinese e-commerce disruptor PDD Holdings (PDD 0.67%), formerly known as Pinduoduo and the parent company of Temu, plunged 25.4% in August, according to data from S&P Global Market Intelligence.PDD Holdings reported second quarter earnings in late August. And while current results showed torrid growth and increased profitability, management warned of both a slowdown and declining margins lookin ...