“Shares of Temu parent company PDD plunge almost 29%; ‘too large a correction’, says analyst”
September 5, 2024
“The nearly 30% drop in shares of Chinese online retailer PDD Holdings is “too much of a correction,” according to Shaun Rein, founder and managing director of the China Market Research Group.
Speaking to CNBC’s “Street Signs Asia,” Rein said the “panic was overblown last night,” and that this would be a good opportunity for investors to buy into the stock…”
It’s not “to much of a drop”. China is in the middle of a economic collapse. Things are only going to get worse for China not better. Their problem with real estate is much much bigger than the U.S. Also they have yet to deal with it.