PDD Stock Dips 34.7% in a Month on Macro Worries: How Should You Play?
PDD(PDD) ZACKS·2024-09-12 00:57
PDD Holdings (PDD) saw its stock taking a significant hit in the past month, plunging 34.7% due to growing macro headwinds. Uncertainties in the global environment, changing consumption patterns, recessionary fears, market volatility and challenging conditions in China's economy have been taking a toll on the PDD stock.The company’s loss compares unfavorably with the industry’s decline of 9.1% and the S&P 500 index’s rally of 2% in the past month.PDD Holdings also faces stiff competition in the domestic and ...