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Briefing
asia e-commerce

Chinese E-Commerce App Pinduoduo’s Stock Plunges

By
Yunan Zhang
· · Source: The Information

Chinese e-commerce company Pinduoduo’s stock fell more than 10% Friday on Nasdaq, after the online marketplace’s total volume of transactions failed to meet analysts’ expectations. Earlier on Friday, Pinduoduo said its revenue grew 67% in the quarter through June as merchants spent more money on ads amid China’s recovery from the coronavirus pandemic. But despite the discount shopping app’s...

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