Category: PDDs
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Hedge funds may lose billions from Temu owner PDD’s stock crash
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Written by Summer Chen HONG KONG (Reuters) – Concentrated bets on Chinese e-commerce giant BDD Holdings Ltd may have cost hedge funds billions of dollars in losses as its shares tumbled following disappointing comments from its executives. Shares of U.S.-listed BDD Inc., owner of low-priced retailer Teemo, have fallen 33%…
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PDD’s $55 billion stock crash sends warning on Chinese economy
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(Bloomberg) — One of the last remaining bright spots in Chinese consumption is fading fast, as the country’s economic malaise saps demand for even the most accessible goods. Most Read from Bloomberg In the latest warning to global markets about the health of China’s economy, Temu owner PDD Holdings (PDD)…