Why Pinduoduo Stock Was Rising This Morning
Shares of Pinduoduo (NASDAQ: PDD) were surging today after the Chinese e-commerce company posted strong results in its second-quarter earnings report, easily outpacing analyst expectations.
As of 9:46 a.m. ET on Monday, the stock was up 17.3%.
The company, which has differentiated itself with a mobile-only platform where buyers pool together with friends and family to get better prices on products, said that revenue in the quarter rose 36% to $4.69 billion, well ahead of estimates at $3.49 billion.
Source Fool.com
