Pinduoduo (PDD) Stock Added 28% In A Week As Company Made 73% More Sales

Pinduoduo Inc. (PDD) shares though lost -6.80 percent on Tuesday but Chinese online retailer added more than 28 percent to $132.37 over the past 5 sessions for posting better-than-expected quarterly results.

Elon Musk just Triggered a BOOM in These Stocks

Something strange is happening in the stock market…. This select group of stocks are going absolutely bananas. And it's all because of Elon Musk. Get your copy of "Top 5 Tech Stocks to Buy in 2024"

Click Here to Download the FREE Report.


In the third quarter, Pinduoduo’s revenue was $2.09 billion, a year-on-year rise of nearly 90 percent. For the 12-month period ended September 30, the overall gross amount of products sold on the platform rose by 73 percent to $214.7 billion. The number of average monthly active users increased to 643.4 million people by 50 percent, which shows the continued growth of the consumer base of the company. The special business model of the company, which allows users to build shopping clubs with friends and family members to save money, was one of the drivers of the increase in the number of customers.

Pinduoduo’s return to profitability by reducing marketing expenses was important news for investors. Adjusted earnings per share were $0.05 in the reported quarter, compared to a loss of $0.22 per share in the third quarter of last year.

The share price of Pinduoduo may also be helped by news of a powerful Single Day in China. Traditionally, the largest Chinese online retailer Alibaba organizes the so-called Single Day on November 11-the discount time. This day has generated more customer activity in recent years than in the United States on events like Cyber Monday or Black Friday. Single Day began a little earlier this year and Alibaba and has racked overall gross sales of more than $115 billion.

In terms of the number of active users, Pinduoduo with 643 million users is behind Alibaba whose active user count is 757 million. However in China and beyond, both platforms benefit significantly from high consumer activity. Despite the fact that China has managed to contain the spread of COVID-19, online shopping is still favored by many customers. Sale of luxury products also remained well during that period.


On What Basis Did Swvl Holdings Corp (SWVL) Stock Rise 47% Pre-Hours?

When last checked, Swvl Holdings Corp. (Nasdaq: SWVL), a...

What Drove Organovo (ONVO) Stock Up 15% In After-Hour Session On Tuesday?

Shares of Organovo Holdings Inc. (Nasdaq: ONVO) were up...

Is There Any Reason As To Why The Zai Lab (ZLAB) Stock Expanded By 13%?

The biopharmaceutical business Zai Lab Limited (NASDAQ: ZLAB), which...



Don't miss

Wearable Devices (WLDS) Stock Rose 12% On Tuesday, But On What Basis?

Wearable Devices Ltd (NASD: WLDS) is experiencing significant growth...

Did Anything Boost ObsEva (OBSV) Stock In Pre-Hours Trading?

Following an update, shares of ObsEva SA (NASD: OBSV)...

How Did The Kalera (KAL) Stock Rise 32% Pre-Hours?

At the time of the most recent check, shares...

Why Has Selina Hospitality (SLNA) Stock Increased In Extended Session On Friday?

The stock of Selina Hospitality PLC (NASD: SLNA), which...

Rocket Pharmaceuticals Inc (RCKT) surge 12.73% in a week: will this be a lucky break through?

Rocket Pharmaceuticals Inc (NASDAQ: RCKT) started the day on December 07, 2023, with a price increase of 1.82% at $26.30. During the day, the...

California Resources Corporation (CRC) Open at price of $49.34: A Brand-New Opportunity for Investors

California Resources Corporation (NYSE: CRC) open the trading on December 07, 2023, with a bit cautious approach as it glided -0.14% to $49.12. During...

Wayfair Inc (W) Open at price of $52.35: A Brand-New Opportunity for Investors

Witnessing the stock’s movement on the chart, on December 07, 2023, Wayfair Inc (NYSE: W) remained unchanged to $53.07. During the day, the stock...


Please enter your comment!
Please enter your name here