PDD (NASDAQ: PDD) posted its first-quarter earnings report on May 22. The Chinese e-commerce giant's revenue soared 131% year over year to 86.81 billion yuan ($12.02 billion) and exceeded analysts' estimates by $1.44 billion. Its adjusted earnings per ADS surged 199% to $2.83 and also cleared the consensus forecast by $1.40.

PDD's growth rates were impressive, but its stock has already risen nearly 160% over the past 12 months. Should investors chase that rally or wait for a pullback?

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Source Fool.com