$PDD(PDD.US) emm, whatever, let it fall. Reduced position to 25%, rebalancing to buy other things. I think its intrinsic value is indeed deeply discounted, but the management really does nothing about the stock price. I think asymmetric risk is also part of the source of the discount. My returns are basically all from trading strategies; from its fundamentals, I haven't made a single cent in the entire 3 years.
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