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Why Shares of Pinduoduo Sank Today

TheMotleyFool

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Shares of Pinduoduo (NASDAQ: PDD) tumbled on Wednesday after the Chinese e-commerce company reported its third-quarter results. Pinduoduo missed analyst estimates across the board, sending the stock down 21.8% by 12:35 p.m. EST.

Pinduoduo reported third-quarter revenue of $1.05 billion, up 123% year over year but $30 million below the average analyst estimate. Gross merchandise value for the trailing-12-month period was $117.5 billion, up 144% year over year.

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Source Fool.com

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