Temu’s Parent PDD Trades Near Cheapest Level Ever as Geopolitical Risks Bite

News Snapshot:

(Bloomberg) -- Shares of Temu parent PDD Holdings Inc. are being held back by geopolitical risks and fierce competition in China’s e-commerce sector. Granted, it US-listed stock has surged 43% surge from a March low, but it’s still trading at just 13 times expected earnings for the next year. That’s half the valuation of the Nasdaq 100, marking PDD’s steepest discount on record. That might seem like a great bargain for a company that more than doubled sales in the latest quarter, a pace of growth second only to Nvidia Corp.’s on the tech-focused index. Some see the gap as...