On October 14, 2025, PDD Holdings Inc. is trading at $124.28 in pre-market, down 2.56% from the previous close. The decline follows a 2.64% gain on October 13 and a sharp 5.32% drop on October 10, reflecting ongoing concerns over slowing revenue growth, increased tariffs, and rising costs from shifting Temu’s US logistics to domestic warehouses. Recent news highlights that PDD’s growth has decelerated significantly, with Q2 2025 revenue up only 7% and operating profit down 21%, as US-China trade tensions escalate and competition intensifies. The broader market is also trading lower, amplifying risk-off sentiment. Despite these headwinds, prominent investor Li Lu has recently increased his stake in PDD, citing its deep value and long-term potential, but near-term risks remain elevated due to trade policy uncertainty and profitability pressures[1][3].