PDD Holdings Stock Gets a Bump from Temu’s Super Bowl Commercials
- February 13, 2024
Key Takeaways
- Temu’s Super Bowl ads have helped give a lift to U.S.-traded shares of parent company PDD Holdings.
- The big Chinese e-commerce company ran three animated ads during the game, and two after it was finished.
- Temu is also hoping to entice U.S. shoppers with $15 million in coupons and giveaways.
The Kansas City Chief may have been the big winners at Sunday’s Super Bowl, but Chinese e-commerce company Temu apparently scored as well.
American Depositary Receipts (ADRs) of Temu’s parent, PDD Holdings ( PDD ), jumped the day after Temu ran three commercials during the big game and two after the game ended. The animation ads featured a girl dancing with bargain prices popping up on various items as she passed, and the phrase “Shop Like a Billionaire” as the tag line.
It was the second-straight year Temu ran spots during the Super Bowl. While the company didn’t say how much it paid for the advertising, it’s been estimated that a 30-second commercial at the game at Allegiant Stadium in Las Vegas cost between $6.5 million and $7 million.
Along with hoping to attract American consumers with its Super Bowl messaging, Temu is also offering $15 million in coupons and giveaways this year.
PDD Holdings ADRs were up 3.2% at $131.59 at around 3:20 p.m. ET Monday. The stock traded at a nearly three-year high last month, and although they’ve lost some ground since then, they’re still up about 37% in the past year.