HONG KONG -- Shares of PDD Holdings, the parent company of Chinese international online retailer Temu, plummeted more than 18% in Tuesday's premarket trading in New York, after its first-quarter sales fell short of expectations.
Technology
Temu parent PDD's shares plunge as Q1 earnings disappoint
Sales fall short on weak China consumption and intense competition
PDD logged a disappointing first quarter amid soft consumption and growing competition. © Reuters
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