Luis Alvarez PDD Holdings (NASDAQ:PDD) stock crashed almost 30% in one day this week after management delivered weak guidance. In this article, I will explain why I believe that the discounting of this stock is likely just beginning. PDD is still overvalued relative to its peers  The first problem with PDD Holdings is its valuation relative to the Chinese e-commerce sector. The company is valued at a forward price/sales ratio of 2.34x, according to Seeking Alpha data. Using two of its obvious peers, we  ...