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Chinese E-Commerce Tycoon Colin Huang Loses $3.1 Billion In One Day As Imminent Price War Spooks Investors

Por: Forbes Business February 22, 2023

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Pinduoduo founder Colin Huang (Photo by Qilai Shen/Bloomberg)© 2017 Bloomberg Finance LP E-commerce giants JD.com and Pinduoduo are on the cusp of a new price war, with the former pledging more than $1 billion in fresh subsidies to win over budget shoppers. But concerns over stepped-up competition and thinning margins has prompted many investors to dump shares across the board, causing Pinduoduo’s founder to lose more than $3 billion in just... + full article



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