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Stock in PDD Holdings sank Monday after sales growth at Temu's parent company undershot expectations and management warned of challenges ahead.PDD Holdings (Pinduoduo) - 30%
PDD’s American depositary receipts fell 28.5% Monday to $100, their largest single-day percentage decrease ever. The stock is down nearly 32% year to date.
"Looking ahead, revenue growth will inevitably face pressure due to intensified competition and external challenges," said Jun Liu, the company’s vice president of finance. "Profitability will also likely be impacted as we continue to invest resolutely." (WSJ)
Sulla borsa di Hong Kong cali medi del 5% anche per Alibaba, JD e compagnia.
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