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Why Pinduoduo Sank Today

TheMotleyFool

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Shares of Chinese e-commerce challenger Pinduoduo (NASDAQ: PDD) fell today, down 12.7% as of 12:41 p.m. ET.

Pinduoduo reported its fourth-quarter 2022 earnings this morning. On the surface, Pinduoduo's growth appeared strong in absolute terms, especially relative to some of its larger rivals. However, the numbers from this challenger to established giants such as JD.com (NASDAQ: JD) and Alibaba came in just shy of analyst expectations.

As the stock had rallied pretty strongly since November 2022, it sold off hard on this "disappointment." But is the stock an opportunity now?

Source Fool.com

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