Temu’s Parent Company PDD Suffers Major Stock Decline Due to New Strategy

PDD Holdings, the company behind Temu and Pinduoduo, saw yesterday a significant stock price drop of 28.5%, erasing about $55 billion from its market value. This steep decline reflected investor concerns after management decided to focus on long-term growth over short-term profits. This strategic shift, moving away from dividends and buy-backs, further unnerved investors. In […]