Shares of Chinese e-commerce giant and Temu-owner PPD (NASDAQ: PDD) came under significant pressure at the end of 2025 and early 2026. In Q4 2025, shares fell more than 14%, and Q1 2026 saw a nearly 10% drop.
Rather than staging a rebound after these falls, pressure has continued to mount. In Q2 2026, shares are down more than 15%. Overall, PDD (also known as Pinduoduo) has slumped approximately 40% from its 52-week high.