$Pinduoduo Inc.(PDD)$ Country concentration risk is quite high, only 4 million target customers in the US, the others are all in the PRC, delivered by a PRC company using PRC tech and PRC platforms. No dividend, no share buy-backs, so exactly how are foreign shareholders going to extract value from their shareholdings if they buy? And that's before assessing the underlying profitability of an e-commerce model with paper-thin margins which in many cases has yet to return a profit (Shein, Shopee, Tokepedia etc).
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