Shares of PDD Holdings (NASDAQ: PDD) were falling today as the parent of Pinduoduo and Temu was swept up in the broader fallout after a Hong Kong court ordered liquidation of China Evergrande Group, which was once China’s biggest real estate developer. As a result, the stock was down 7.6% as of 12:20 p.m. ET […]
PDD (NASDAQ: PDD), more commonly known as Pinduoduo, is China’s third largest e-commerce company by annual revenue after Alibaba (NYSE: BABA) and JD.com (NASDAQ: JD). However, it’s still growing faster than both those market leaders. PDD was founded just nine years ago, but it carved out a niche with its discount marketplace before expanding into […]