PDD Holdings: Cautious In The Near Term But Still Bullish In The Long Term

Future Publishing/Future Publishing via Getty Images Since the initial publication of my investment thesis about PDD Holdings (NASDAQ:PDD), the stock has rallied almost 40%. After I wrote my investment thesis, PDD reported a blowout quarter for Q3 of 2023, which I wrote about after the Q3 earnings release. Since then, there have been some recent developments that may create headwind for PDD in the short term but won't have meaningful impact in the long term. Therefore, I continue to give PDD a "buy" rating ...