Will PDD (Pinduoduo) Be a Trillion-Dollar Stock by 2030?
PDD (NASDAQ: PDD), more commonly known as Pinduoduo, has generated massive gains for its investors since its IPO in July 2018. The Chinese e-commerce giant went public at $19, and it now trades at $135 with a market cap of $180 billion.
That makes PDD nearly as valuable as market leader (NYSE: BABA), which is currently worth $187 billion. Alibaba's stock has declined more than 60% since PDD's market debut as it grappled with competitive, regulatory, and macro challenges. Meanwhile, PDD's stock soared more than 600% as it dazzled investors with its sizzling growth rates.
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Source Fool.com
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