JD stock plunged 11% to 47.15, during morning trading on the stock market today.
PDD and JD stock, along with other China stocks that include Alibaba (BABA), dropped over concerns of rising competition and price wars.
According to news reports initially from Chinese media outlets on Friday, PDD and its budget-conscious shopping app known as Pinduoduo, has grown rapidly and is taking market share from JD as well as Alibaba.
I dont have any positions but wondering what Michael Burry was thinking.
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