PDD Stock Plummets: Profit Warning Highlights China Market Struggles [Yahoo! Finance]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: Yahoo! Finance
Inc. ( NASDAQ:PDD ) saw its shares plummet as much as 10% in early trading. The firm, which is up against rivals like Alibaba Group ( NYSE:BABA ), said that a lack of knowledge among its staff makes it difficult to stay up with competitors. PDD's most recent financial report disappointed analysts in terms of both sales and profitability, which raised questions about how China's economic downturn will affect its company. "We will see greater financial impact as we will be disadvantaged against our competitors for some time to come," co-CEO Zhao Jiazhen said on a Thursday call with analysts. He also said that the crew of the organization lacks some essential skills required to compete successfully and is constrained by prior experience. Warning! GuruFocus has detected 1 Warning Sign with PDD. This caution comes after PDD's August warning, which said that sales and earnings increases will slow down in the next quarters. Given China's economic woes, PDD's challenges highlight the ch
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BABA
Earnings
- 11/15/24 - Beat
BABA
Sec Filings
- 11/21/24 - Form 6-K
- 11/20/24 - Form 6-K
- 11/20/24 - Form 6-K
- BABA's page on the SEC website