{"id":848776,"date":"2024-08-28T09:24:37","date_gmt":"2024-08-28T03:54:37","guid":{"rendered":"https:\/\/telecomlive.in\/web\/?p=848776"},"modified":"2024-08-28T09:39:05","modified_gmt":"2024-08-28T04:09:05","slug":"chinas-pdd-suffers-55-bn-market-cap-wipeout-on-uncertainties-in-market","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2024\/08\/28\/chinas-pdd-suffers-55-bn-market-cap-wipeout-on-uncertainties-in-market\/","title":{"rendered":"China&#8217;s PDD suffers $55 bn market cap wipeout on uncertainties in market"},"content":{"rendered":"<p>China&#8217;s PDD Holdings missed market estimates for quarterly revenue on Monday, and downbeat comments from executives about China&#8217;s domestic e-commerce competition and the firm&#8217;s global outlook sent its shares down more than 28 per cent. <\/p>\n<p>The biggest one-day share fall for PDD since it listed in the US in 2018 wiped out nearly $55 billion in market capitalisation. The e-commerce retailer operates discount-focused platforms Pinduoduo in China and Temu for the international market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>China&#8217;s PDD Holdings missed market estimates for quarterly revenue on Monday, and downbeat comments from executives about China&#8217;s domestic e-commerce competition and the firm&#8217;s global outlook sent its shares down more than 28 per cent. The biggest one-day share fall for PDD since it listed in the US in 2018 wiped out nearly $55 billion in market capitalisation. The e-commerce retailer operates discount-focused platforms Pinduoduo in China and Temu for the international market.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9,34,4],"tags":[],"class_list":["post-848776","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-it-2-business-standard-newspapers","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/848776","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=848776"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/848776\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=848776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=848776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=848776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}