Why Pinduoduo Stock Jumped 28% Last Month

Shares of Pinduoduo (NASDAQ: PDD) surged last month for one reason. Investors speculated that a crackdown on rival Alibaba (NYSE: BABA) would be good news for Pinduoduo. According to data from S&P Global Market Intelligence, the stock finished December up 28% on the news. 

As you can see from the chart below, the surge in the stock came at the end of the month after the Chinese government had announced an antitrust investigation into Alibaba.

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Source Fool.com