Is It Too Late to Buy Pinduoduo (PDD) Stock?
Pinduoduo's (NASDAQ: PDD) stock surged 19% on May 26 after the Chinese e-commerce company posted its first-quarter report. Its revenue rose 58% year over year to 37.64 billion yuan ($5.48 billion), beating analysts' estimates by $920 million. Its adjusted net income grew 141% to 10.13 billion yuan ($1.47 billion), or $1.01 per American depositary share (ADS), which also cleared the consensus forecast by $0.38.
Pinduoduo is still clearly growing much faster than its two closest e-commerce competitors, (NYSE: BABA) and JD.com (NASDAQ: JD). But is it too late to buy this stock following its 42% rally over the past 12 months?
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Source Fool.com
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