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Why Baidu, Tencent Holdings, and Pinduoduo Skyrocketed Today
Shares of Chinese internet giants Baidu (NASDAQ: BIDU), Tencent Holdings (OTC: TCEHY) and Pinduoduo (NASDAQ: PDD) were rocketing skyward on Wednesday, up 25.9%, 25.8%, and — wait for it — 43.6%, respectively, as of 1:16 p.m. ET. Of course, they also come after an unprecedented losing streak for Chinese stocks over the past week. Chinese stocks have been wrecked by a combination of factors.
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