By Jess Jones Shares in Pinduoduo (PDD Holdings), the Chinese owner ofdiscount retailer Temu, have plunged by nearly 29 per cent in New York in a move that has wiped $55bn (£41.6bn) off the company’s market value. The steep decline followed a warning from management about an impending nosedive in profits, causing investors to reassess the company’s prospects. It could be seen as a confirmation of some analyst fears that Temu’s aggressive marketing strategy may be unsustainable when coupled with its ultra-low prices that has helped the ecommerce site known for its “shop like a billionaire” mott…