EMU Collapses, $50 Billion Lost in Hours.

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EMU Collapses, Billion Lost in Hours.

The stock of PDD Holdings, parent company of the fast-growing Temu shopping app, sank more than 30% on Monday, losing more than $50 billion in market value, after the e-commerce giant posted disappointing revenue results and executives warned of rapid competition and nonbusiness challenges that may dampen growth and profits going forward.

fortune.com/2024/08/26/temu-pdd-stock-plunges-government-scrutiny-amazon-rivals/

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