Why Pinduoduo (PDD) Stock Is Falling Today - Alphabet (NASDAQ:GOOG), Alphabet (NASDAQ:GOOGL), PDD Holdings (NASDAQ:PDD)

Alphabet Inc GOOG GOOGL Google has suspended PDD Holdings Inc's PDD main Chinese shopping app, Pinduoduo, after discovering malware in unsanctioned versions of the software.
On Tuesday, Google said it is analyzing the matter and suspended downloads of the Play Store version of Pinduoduo as a security precaution, Bloomberg reports.
Google warned users Tuesday to uninstall off-store versions of Pinduoduo.
Also Read: Why PDD Holdings Shares Are Plunging Today
Temu, PDD's popular shopping app for the U.S., remains available to download.
Google's move may cast a cloud over the company at a time when Chinese-owned apps like TikTok faced flak from U.S. regulators for potentially threatening national security.
Code from previous versions of the app on GitHub shows malware present, said Shawn Chang, founder, and CEO of Hong Kong-based security firm HardenedVault.
PDD has used nday/0day exploits, targeting Android parcel serialization/deserialization to gain system privileges as per publicly available information, he said.
PDD has lately won market share from Alibaba Group Holding Ltd BABA and JD.com Inc JD by chasing the poorer rural cities not penetrated by the more prominent players while aggressively expanding in North America with Temu.
Like fast-fashion upstart Shein, Temu captures American shoppers with bargains to tap the cost-sensitive customers.
Price Action: PDD shares traded lower by 1.91% at $77.40 premarket on the last check Tuesday.

Big Blow For Pinduoduo As Google Discontinues Shopping App After Finding Malware