Why PDD Holdings Stock Was Falling Today
PDD(PDD) The Motley Fool·2024-01-29 18:58Shares of PDD Holdings (PDD -8.05%) were falling today as the parent of Pinduoduo and Temu was swept up in the broader fallout after a Hong Kong court ordered liquidation of China Evergrande Group, which was once China's biggest real estate developer.As a result, the stock was down 7.6% as of 12:20 p.m. ET on Monday. China risk rears its head againU.S.-listed stocks were down broadly with the iShares MSCI China ETF (MCHI -2.31%) down 1.9% at the same time.Though the event doesn't seem to have a direct impac ...