PDD Stock Tumbles as Quarterly Results Fall Short of Estimates

KEY TAKEAWAYSU.S.-traded shares in PDD Holdings are plunging in premarket trading Thursday after the parent of the Temu discount marketplace posted quarterly results that fell massively short of analysts’ estimates.Competition and a costly expansion have been cutting into PDD's earnings.PDD shares are down 20% this year. U.S.-traded shares in PDD Holdings (PDD) are plunging in premarket trading Thursday after the parent of the Temu discount marketplace posted quarterly results that fell massively short of a ...