Shares of PDD Holdings Inc. (NASDAQ:PDD) are presenting a significant upside opportunity, with analysts forecasting a potential 92% rise from its current levels. This comes after the Chinese retail-tech giant saw its stock tumble by over 35% in just two sessions following disappointing second-quarter results.
What Happened?
PDD, formerly known as Pinduoduo Inc., suffered a massive 29% decline on Monday, following the release of its second-quarter results, marking its worst single-day drop since its 2018 IPO.
The company's guidance for slower growth, driven by intensified domestic competition and international market uncertainties, has spooked investors.
However, management highlighted their strategy to focus on “high-quality growth,” which includes bolstering merchant support and enhancing supply chain efficiency.
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Analyst Reactions
Following the disappointing second-quarter results from PDD Holdings, several analysts have revised their forecasts and price targets for the company. Here's ...
