Name: Temu Owner Sees Stock Plunge After Revenue Report
Uploaded: 2024-08-28T03:50:55.000Z
Description: Another red flag is rising for China’s economy. The owner of online shopping giant Temu, called PDD Holdings, saw its biggest stock plunge to date on Monday—an almost 30 percent drop. The company lost more than $50 billion in market value after its second quarter revenue came in lower than expected.

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Another red flag is rising for China’s economy. The owner of online shopping giant Temu, called PDD Holdings, saw its biggest stock plunge to date on Monday—an almost 30 percent drop. The company lost more than $50 billion in market value after its second quarter revenue came in lower than expected.

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