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Pinduoduo Stock Gets Crushed. Sales Miss Estimates.

·2 min read
Pinduoduo Stock Gets Crushed. Sales Miss Estimates.
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  • PDD

U.S.-listed shares of Pinduoduo plummeted Friday after the Chinese e-commerce company reported third-quarter sales much lower than Wall Street expectations. Adjusted earnings were 2.18 yuan, or 34 cents per American depositary share, up from 33 cents in the same quarter of 2020. Shares of Pinduoduo (ticker: PDD) closed down 15.86% to $68.46 on Friday.