Here's Why PDD Holdings Stock Is Moving
Portfolio Pulse from Henry Khederian
PDD Holdings Inc's shares are trading lower by 2.87% due to a drop in China's industrial profit in May. The industrial firms in China have seen a continued decline in annual profits, with a 18.8% slump in the first five months. PDD has a 52-week high of $106.38 and a 52-week low of $38.80.
June 28, 2023 | 3:48 pm
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PDD Holdings Inc's shares are trading lower due to a drop in China's industrial profit. The company's 52-week high is $106.38 and low is $38.80.
The decline in China's industrial profit has led to a decrease in the share price of PDD Holdings Inc. The company's shares are directly affected by the economic conditions in China, as it is a Chinese company. The continued decline in industrial profits indicates a challenging economic environment, which is likely to negatively impact the company's performance and hence its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100