PDD Stock Jumps on China's Economic Stimulus Moves
PDD(PDD) Gurufocus·2024-10-08 05:50
PDD Holdings (PDD, Financial), the parent company of Pinduoduo and Temu, saw a minor decline in its stock price today, with a decrease of 0.76%, bringing the price to $153.09. This movement follows the stock's significant volatility in past months as it responded to external economic influences, primarily driven by China's recent economic stimulus efforts.China's economy is on the road to recovery from the pandemic and stringent "zero COVID" policies that previously hampered consumer spending. The People's ...