Shares of Temu parent company PDD plunge almost 29%; 'too large a correction', says analyst
Publishing timestamp: 2024-08-27 01:24:02
Summary
PDD Holdings saw a 30% drop in shares after failing to meet expectations in the second quarter. Analysts believe this is a good opportunity for investors to buy into the stock, as the company is still growing despite missing expectations. The Chinese e-commerce sector is facing challenges from competition and weak consumer growth.
Sentiment: MIXED
Tickers: PDD, COST, WMT, AMZN, BABA, 9618-HK, JD,
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