3 Catalysts for Pinduoduo's Stock in 2021
Pinduoduo's (NASDAQ: PDD) stock quadrupled this year as the Chinese e-commerce company dazzled investors with its robust revenue growth. Its revenue rose 130% last year, then grew another 70% year-over-year in the first nine months of 2020.
However, Pinduoduo remains unprofitable, it faces stiff competition from its bigger rivals Alibaba (NYSE: BABA) and JD.com (NASDAQ: JD), and its stock isn't cheap. Those concerns are all valid, but three catalysts could still boost the e-commerce underdog's stock to fresh highs next year.
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Source Fool.com
