Back to top
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Why Pinduoduo (PDD) Soared 20% on Thursday
Shares of Pinduoduo (PDD - Free Report) jumped 20% in midday trading after reporting a surprise adjusted profit and revenue growth in the company’s fiscal third quarter. At the close, PDD was up 20.4% to $134.21 per share. PDD has more than quadrupled from its mid-March 52-week low of above $30
Revenue jumped 89% year-over-year while adjusted profit of 0.33 yuan per American depository share beat analyst estimates. Chief Executive Lei Chen said that user engagement played a big part in the company’s strong third quarter performance—monthly active users increased by 50% to 634.4 million and active buyers hit 536.3 million, up 36% year-over-year.
Pinduoduo is a Shanghai-based e-commerce platform, and is the second-largest online marketplace in China behind Alibaba (BABA - Free Report) .
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>