What's Going On With PDD Holdings Stock: Report Says TEMU Is "More Dangerous' Than TikTok
Portfolio Pulse from Erica Kollmann
PDD Holdings Inc. (NASDAQ:PDD) shares are trading lower after Grizzly Research released a report claiming that the company's TEMU shopping app is spyware. The report also alleges that PDD Holdings intends to sell its customers' data and accuses the company of unreliable financial reporting.
September 07, 2023 | 4:03 pm
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PDD Holdings' stock is trading lower due to allegations of its TEMU app being spyware and the company's intention to sell customer data. The company is also accused of unreliable financial reporting.
The allegations of spyware and data selling, coupled with claims of unreliable financial reporting, have created a negative sentiment around PDD Holdings. This has led to a decrease in the company's stock price.
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