PDD Holdings slips amid new Hedgeye short idea
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PDD Holdings (NASDAQ:PDD) dipped 3% amid a new short idea from Hedgeye.
"PDD was our top long idea in 2022 as it was the biggest beneficiary of the COVID-19 lockdowns last year," Hedgeye analyst Felix Wang wrote in a note. "However, the upcoming comps are very difficult."
Wang wrote that Hedgeye's proprietary algorithm also suggests weakness on PDD users in Q2 2023.
"Temu is the focus of most investors, however we believe there will be short-term pain before any realization of long-term gains," Hedgeye's Wang added. 
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