At present, China is suffering from typical deflation, credit contraction in the whole society, income decline, and extreme pessimism about the future. JD Taobao doesn't work, and Pinduoduo and Tiktok Group Buying are rising because they are cheap. Houses, cars and mobile phones can't be sold, so real estate stocks, Tesla and Xiaomi Apple, Intel and TSMC are all plummeting. The bull market allows story telling and pie drawing, while the bear market will definitely look at the performance until the stock price matches the performance.$Pinduoduo Inc.(PDD)$
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