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Pinduoduo crashed 28% in Nasdaq trading

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27-08-2024, 11:10 AM

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Pinduoduo crashed 28% in Nasdaq trading

An honorable member of the Coffee Shop Has Just Posted the Following:

(Reuters) -China’s PDD Holdings missed market estimates for quarterly revenue on Monday, as reduced consumer spending dented business at its domestic e-commerce platform Pinduoduo, sending the company’s shares down more than 25% in early trade. Pinduoduo Inc. is a Chinese online retailer with a focus on the traditional agriculture industry. The business is the largest product of PDD Holdings, which also owns the online marketplace Temu...

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