Stocks ticked higher this morning and seemed ready to take back some of last week’s losses after Beijing announced its decision to ease quarantine measures. Another factor contributing to the positivity around Chinese stocks, a report from The Wall Street Journal, released this morning, stated that Chinese regulators are wrapping up their investigation into Didi, which could indicate that Beijing’s crackdown on tech may be coming to an end.
With China’s regulations back in focus and Beijing signaling an easement of its crackdown on tech, the bullish case for today’s featured stock is taking shape. The share price is still down 10% since the beginning of the year, but it might not be at this level for long.
Banyan Hill Publishing:
Just $2 a Share Today — The No. 1 Investment of the 2020s
New technology’s user base growing at 5X the speed of the internet in the 1990s. Could dwarf dot-com boom. [Click here to get details on $2 stock now.]
Founded in 2015, Pinduoduo (PDD) is one of the fastest-growing tech companies in the world. The agriculture-focused e-commerce platform connects more than 12 million farmers with distributors and consumers directly through its interactive shopping experience, allowing users to participate in group buying deals.
In 2017, the company ended its online direct sales model and transitioned to purely providing online marketplace services to third-party merchants across more categories. According to Pinduoduo‘s July 2018 prospectus, this change from a first party to a third party marked the start of explosive growth. From there, Duo Duo Live was launched in December 2019 as a live streaming feature available for merchants to better promote their wares. Duo Duo Grocery, a next-day, click-and-collect grocery service, was rolled out in August 2020 as a response to the changing consumer needs for buying groceries in the wake of the COVID-19 pandemic.
Since its Feb 2021 peak, PDD’s share price is down more than 74%. The stock garners a solid Buy rating from the Wall Street pros offering recommendations and a median price target of $65, representing a 27.5% increase from Monday’s premarket price.
Where to invest $1,000 right now...
Before you consider buying Pinduoduo, you'll want to see this.
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