Why Shares of Pinduoduo Fell 16.6% in August

Shares of Chinese e-commerce upstart Pinduoduo (NASDAQ: PDD) plunged 16.6% in September, according to data from S&P Global Market Intelligence. There wasn't a whole lot of news on Pinduoduo during the month, as the company reported earnings toward the end of August.

Still, after having more than doubled in 2020 amid the COVID e-commerce boom, shares cooled along with the rest of the technology sector last month.

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Source Fool.com