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Pinduoduo Stock Surged 295% in 2020: Is It a Buy for 2021?

TheMotleyFool

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Pinduoduo Stock Surged 295% in 2020: Is It a Buy for 2021?

A recession and global pandemic were terrible for the world in 2020; however, it was also probably an ideal scenario for both discount retailers and e-commerce companies. So when you fuse both of those elements together in a single business model, and mix it with one of the highest-growth countries in the world, you'll probably get impressive returns.

That's exactly what happened this year to Chinese e-commerce upstart Pinduoduo (NASDAQ: PDD), which has nearly quadrupled through Dec. 18.