Why Amazon Stock Popped While PDD Holdings Flopped Today
PDD(PDD) The Motley Fool·2024-09-10 05:49
What's bad for Temu is theoretically a boon for the U.S. retail giant.It was a tale of two big etailers on the stock exchange Monday. Sturdy American sector giant Amazon (AMZN 2.34%) ended the day up more than 2% in price, while Chinese discount goods retailer PDD Holdings (PDD -0.90%) slid by nearly 1%. The bellwether S&P 500 index, meanwhile, improved by slightly more than 1%.Temu growth slowingMuch of this stemmed from a new analysis on PDD from Bank of America. The lender concluded that the growth of Te ...