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Likes Received$PDD(PDD.US) Why is the market so bearish on Pinduoduo?
With a market cap of 136.5 billion, 50 billion in cash, and 14 billion in annual net profit, the forward PE might be just over 5, which is really a very cheap price.
Although Temu may carry geopolitical risks, the current price doesn't even factor in Temu, right? Just looking at the domestic main site, it's already undervalued.
Or is it due to concerns about the future price war with Taobao and JD.com's billion-yuan subsidies? Or is the bearishness because Pinduoduo has been delaying dividend payouts?
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