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858 PDD Shares Fall as Growth Slows, Competition Intensifies

The Information
Ann Gehan @ The Information · 08/26/2024 10:43 EDT

Shares of Temu parent company PDD Holdings fell nearly 25% in morning trading Monday after the Chinese e-commerce giant warned that revenue growth would slow amid mounting competition. The company reported revenue of $13.36 billion for the second quarter, which represented an 86% increase from a ...

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