If You Invested $1,000 in Pinduoduo in 2018, This Is How Much You Would Have Today
Pinduoduo (NASDAQ: PDD), one of the largest e-commerce companies in China, went public at $19 per American depositary share (ADS) on July 26, 2018. It eventually hit an all-time high of $202.82 on Feb. 17, 2021, during the buying frenzy in growth stocks, but shares now trade at about $70.
A $1,000 investment in Pinduoduo's initial public offering (IPO) would have briefly grown to nearly $10,700 before shrinking back to about $3,700 today. Nevertheless, a 270% gain in less than five years is still pretty impressive. Pinduoduo also easily outperformed its closest competitors -- and JD.com -- during the same period.
Image source: Getty Images.
Source Fool.com