Futures rose after Fed chief Jerome Powell and omicron fears hit the market rally. Tesla rivals Xpeng, Li, Nio sales were strong. Read More...
Motley Fool
Is Pinduoduo Stock a Buy?
Pinduoduo’s (NASDAQ: PDD) stock plunged 16% to a new 52-week low on Nov. 26 after it posted its third-quarter earnings report. The Chinese e-commerce company’s revenue rose 51% year over year to 21.51 billion yuan ($3.34 billion), but missed analysts’ estimates by $690 million. Pinduoduo’s headline numbers looked impressive, but concerns about its decelerating growth, regulatory headwinds, and commitment to China’s “common prosperity” push are weighing down the stock.
