Is Pinduoduo Stock a Buy Now?
Pinduoduo's (NASDAQ: PDD) stock surged 15% on Aug. 29 following its second-quarter report. The Chinese e-commerce company's revenue rose 36% year over year to 31.44 billion yuan ($4.69 billion), which beat analysts' estimates by $1.25 billion. Its adjusted earnings grew 165% to 7.54 yuan ($1.13) per American depositary share, which also cleared expectations by $0.72.
Those growth rates were impressive, but Pinduoduo's stock remains nearly 70% below its all-time high from last February. So should investors take a second look at the third-largest e-commerce player in China?
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Source Fool.com
