PDD - What's Going On With Alibaba Stock Monday? | Benzinga
Alibaba Group Holding Ltd (NYSE: BABA) and JD.com Inc (NASDAQ: JD) reported sales growth during China's Singles Day shopping festival despite a challenging economic climate and increased competition from social media platforms like ByteDance Ltd's Douyin.
Industry estimates suggest a modest increase in gross merchandise volume (GMV) for the e-commerce giants, with Alibaba's Tmall and JD.com's leading portal showing slight growth and PDD Holdings Inc's (NASDAQ: PDD) Pinduoduo experiencing a more significant rise, Bloomberg reports.
The festival, which has evolved from a 24-hour event to weeks of promotions, ...