Guys, you won’t believe what happened today. I was checking the market, you know, just my usual routine, and I saw something crazy. Temu’s owner, PDD Holdings, their stock just took a nosedive. I mean, it was wild!
So, I started digging. First, I pulled up the stock charts, looked at the numbers, the usual stuff. What I saw was a sharp drop, like, almost 30% in a single day. That’s huge! I was like, “What the heck is going on?” I started checking financial news, reading articles, anything I could find.
Then, I realized it was after the third-quarter revenue report came out. Turns out, their revenue was lower than what people expected. Something like 99.35 billion yuan, which is about $14.16 billion in US dollars. Still a lot of money, but not enough to keep the investors happy. The report said something about “intense competition”. I guess the online shopping world is getting tougher.
I kept digging, found out that there was even bigger fall a while ago, on August 26th, almost 29%. Some articles said that they lost US$55 billion off the valuation. It just blew my mind!
I also found their address. It’s somewhere in Singapore, 82 Ubi Avenue 4 #05-04 Edward Boustead Centre. I don’t know why, but it made the whole thing feel more real, you know? Like, it’s not just numbers on a screen, it’s a real company with a real office.
It was just crazy seeing such a big company take such a hit. I mean, we all use Temu, right? It’s huge! And to see their stock fall like that, it just makes you think. This whole thing had me glued to my screen all day.
Anyway, I thought I’d share this wild ride with you all. It’s a crazy world out there in the stock market, and today was definitely a reminder of that.
- Checked the market and saw PDD Holdings stock plunging.
- Looked at charts and saw a nearly 30% drop.
- Read financial news and found out about the third-quarter revenue report.
- Discovered the revenue was lower than expected, around $14.16 billion.
- Realized competition was a major factor.
- Found out about an even bigger drop on August 26th.
- Got their Singapore address, just because.
It was a wild day, and I just had to share it with someone. Maybe it helps someone to understand these situations.
