Reported about 2 months ago
PDD Holdings Inc., the parent company of Temu, experienced an 18% drop in share price after executives cautioned about unsustainable revenue growth amid fierce competition from rivals like ByteDance and Alibaba. Revenue for the June quarter fell short of expectations, increasing concerns over profitability and the need for PDD to boost investments to retain merchants. As competition intensifies, especially in the e-commerce sector, analysts predict challenges for PDD's growth outlook in the coming months.
Source: YAHOO