Why PDD Holdings Stock Was Moving Higher Again Today
Shares of PDD Holdings (NASDAQ: PDD), a Chinese e-commerce company and owner of discount-priced sites Pinduoduo and Temu, were climbing for the second day in a row today.
Today's gains came one day after the stock soared on a blowout earnings report, seeing strong revenue growth even in a difficult economic environment. The stock was gaining on Wednesday as several Wall Street analysts raised their price targets on the stock and as Alibaba co-founder Jack Ma called out the threat from Pinduoduo in an internal company post.
As a result, PDD stock was up 1% as of 10:54 a.m. ET after gaining as much as 4.2% earlier in the session.
Source Fool.com
Alibaba Group Holding Ltd ADR Stock
€69.30
1.020%
The stock is one of the favorites of our community with 43 Buy predictions and 2 Sell predictions.
With a target price of 109 € there is a hugely positive potential of 57.29% for Alibaba Group Holding Ltd ADR compared to the current price of 69.3 €.
