Daily U.S. users of PDD Holdings (PDD)’ Temu fell 58% in May, Casey Hall and Arriana McLymore of Reuters report, citing data from market intelligence firm Sensor Tower. The U.S. closed the “de minimis” loophole on May 2, and Temu then slashed its U.S. ad spending, the report notes.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PDD:
- Meta Stock Higher as It Goes Full Pelt on AI Ads
- PDD Holdings Faces Turbulence Amid Analyst Downgrades
- Unusually active option classes on open May 30th
- Notable open interest changes for May 28th
- PDD Holdings: Strategic Investments and Market Dynamics Present a Buying Opportunity Despite Short-Term Challenges
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue