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Is Pinduoduo (PDD) Stock a Buy Now?

TheMotleyFool

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Pinduoduo's (NASDAQ: PDD) stock surged 15% on Aug. 29 after the Chinese e-commerce company posted its second-quarter results. Its revenue rose 66% year over year to 52.28 billion yuan ($7.21 billion) and exceeded analysts' expectations by $1.18 billion. The company's adjusted net income increased 42% to 15.27 billion yuan ($2.11 billion), or $1.44 per American depositary share (ADS), and also easily cleared the consensus forecast by $0.42 per ADS.

That impressive top- and bottom-line beat justified Pinduoduo's post-earnings pop, but it still remains more than 50% below its all-time high from early 2021. Is it time to finally hop aboard the bullish bandwagon?

Image source: Getty Images.

Source Fool.com

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