Pinduoduo Inc. Sponsored ADR Dips More Than Broader Markets
$PDD Holdings(PDD.US$ $Pinduoduo Concept(BK0724.SH$ $S&P 500 Index(.SPX.US$ $China Concept Stocks(BK2517.US$ $Dow Jones Industrial Average(.DJI.US$ $NASDAQ(NASDAQ.US$
Pinduoduo closed at $47.33 in the latest trading session, marking a -0.71% move from the prior day. This change lagged the S&P 500's daily loss of 0.43%. Meanwhile, the Dow lost 0.18%, and the Nasdaq, a tech-heavy index, lost 0.4%.
Shares of the company had lost 12.85% over the past month. This has lagged the Retail-Wholesale sector's gain of 8.29% and the S&P 500's gain of 6.28% in that time.
Pinduoduo closed at $47.33 in the latest trading session, marking a -0.71% move from the prior day. This change lagged the S&P 500's daily loss of 0.43%. Meanwhile, the Dow lost 0.18%, and the Nasdaq, a tech-heavy index, lost 0.4%.
Shares of the company had lost 12.85% over the past month. This has lagged the Retail-Wholesale sector's gain of 8.29% and the S&P 500's gain of 6.28% in that time.
Investors will be hoping for strength from Pinduoduo ADR as it approaches its next earnings release. In that report, analysts expect Pinduoduo Inc. Sponsored ADR to post earnings of $0.38 per share. This would mark a year-over-year decline of 13.64%. Meanwhile, Zacks latest consensus estimate is calling for revenue of $3.54 billion, down 0.82% from the prior-year quarter.
For the full year, Zacks Consensus Estimates are projecting earnings of $1.93 per share and revenue of $16.67 billion, which would represent changes of +28.67% and +14.5%, respectively, from the prior year.
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