Watching PDD Holdings; Grizzly Research Issues Short Report On Co Headlined "We Believe PDD Is A Dying Fraudulent Company And Its Shopping App TEMU Is Cleverly Hidden Spyware That Poses An Urgent Security Threat To U.S. National Interests"
Portfolio Pulse from Happy Mohamed
Grizzly Research has issued a short report on PDD Holdings, alleging that the company is fraudulent and its shopping app TEMU is hidden spyware posing a security threat to U.S. national interests. The report claims that TEMU has hidden functions allowing for extensive data exfiltration and has been downloaded over 100 million times in the U.S. and Europe. Grizzly Research also suspects that TEMU is selling stolen data from Western customers. Furthermore, the report criticizes PDD's financials as unreliable and indicates that its China business is rapidly declining.
September 07, 2023 | 2:35 pm
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PDD Holdings is accused of being a fraudulent company with a shopping app that is allegedly hidden spyware. The company's financials are also criticized as unreliable.
The allegations of fraud and hidden spyware in PDD's app, along with criticism of its financials, could significantly impact the company's reputation and stock price. Investors may lose confidence in the company, leading to a potential drop in its stock price.
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