News Snapshot:
Shopping app Temu is taking off in the U.S., a development being monitored by Wall Street analysts that follow Amazon.com (AMZN). It's too early, though, to gauge how big a threat Temu could be to AMZN stock, as it also faces fresh competition from TikTok's new U.S. e-commerce business. X Temu is a subsidiary of PDD Holdings (PDD). Both Temu and video-sharing website TikTok's new e-commerce business source most goods from China. "Temu has rapidly gained in popularity in the U.S.," Goldman Sachs internet analyst Eric Sheridan said in a recent note to clients. "In our view, Temu's rise in...
