PDD Holdings Stock Plummets
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Chinese online shopping giant PinduoduoFortune
•China fast-fashion retailer Temu soared like a rocket for two years — in just a few hours, its parent company lost more than $50 billion in market value
81% Informative
PDD Holdings lost more than $50 billion in market value on Monday .
The Chinese e-commerce giant is the parent company of the fast-growing Temu shopping app.
Temu has grown into one of the most popular shopping apps in the U.S. and other Western markets.
But the company has also come under fire from regulators and lawmakers over some of its shipping tactics.
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