Temu's parent company's stock tanked on a major warning sign from the cheap e-commerce brand

Temu's parent company's stock tanked on a major warning sign from the cheap e-commerce brand

PDD stock plunged nearly 29% on Monday.Future Publishing/Getty ImagesPDD Holdings' stock plummeted 29% Monday after a bleak outlook due to competition and consumer shifts.The company faces challenges from changing demand, intensifying competition, and global uncertainties.PDD, which is facing a merchant backlash, plans to support high-quality sellers.Temu parent PDD Holdings' stock plunged after the Chinese e-commerce giant signaled a bleak outl…