AMZN - Did Amazon Just Say Checkmate to Pinduoduo? 1 Big Move Investors Should Watch
2024-07-13 07:47:00 ET
The e-commerce realm is ripe with competition. While Amazon (NASDAQ: AMZN) has become the 800 pound gorilla in the e-commerce space, consumers have plenty of other options.
One online marketplace that has risen in popularity in recent years is Temu , a Chinese e-commerce platform operated by PDD Holdings, parent company of Pinduoduo. In the last couple of years, Temu has done a respectable job expanding outside of China, and is now heavily penetrating the U.S. and many European countries.
Amazon has taken note of Temu's rise, and recent reports suggest the big tech juggernaut has a plan to fend off its Chinese counterpart.
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Did Amazon Just Say "Checkmate" to Pinduoduo? 1 Big Move Investors Should Watch