USPS Resumes China Parcel Service. Amazon, Temu Owner PDD and Alibaba Stocks Fall.
Amazon.com Alibaba and Temu’s parent, PDD Holdings were among the e-commerce stocks falling on Wednesday, even after the U.S. Postal Service said it would resume accepting all inbound parcels from mainland China and Hong Kong.
PDD-owned budget online retailer Temu and its rival Shein have relied on de minimis to maintain their rock bottom prices.
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PDD Holdings Inc. (NASDAQ: PDD) shares are moving lower Wednesday as the company faces increased scrutiny from U.S. regulators and new trade restrictions that could impact its business model.
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