Temu’s parent company, PDD Holdings, has had a rough several weeks. In August the company’s stock price plunged nearly 30 percent after its second-quarter earnings fell short of analysts’ expectations. Despite this, PDD is performing astonishingly well in the market, making the steep sell-off a bit surprising. But Investors are clearly skittish. PDD’s stock price took a mini tumble in mid-September after the Biden administration announced that it intends to close a customs exemption that allows low-value imports to enter the country duty free.