U.S. markets close in 10 minutes
  • S&P 500

    3,952.55
    +18.63 (+0.47%)
     
  • Dow 30

    33,678.93
    +81.01 (+0.24%)
     
  • Nasdaq

    11,051.60
    +93.05 (+0.85%)
     
  • Russell 2000

    1,814.79
    +7.89 (+0.44%)
     
  • Crude Oil

    71.40
    -0.61 (-0.85%)
     
  • Gold

    1,800.50
    +2.50 (+0.14%)
     
  • Silver

    23.25
    +0.33 (+1.45%)
     
  • EUR/USD

    1.0557
    +0.0043 (+0.41%)
     
  • 10-Yr Bond

    3.4910
    +0.0830 (+2.44%)
     
  • GBP/USD

    1.2239
    +0.0034 (+0.28%)
     
  • USD/JPY

    136.6640
    +0.1400 (+0.10%)
     
  • BTC-USD

    17,209.51
    +381.01 (+2.26%)
     
  • CMC Crypto 200

    405.62
    +10.93 (+2.77%)
     
  • FTSE 100

    7,472.17
    -17.02 (-0.23%)
     
  • Nikkei 225

    27,574.43
    -111.97 (-0.40%)
     

Why Pinduoduo's Stock Is Moving Today

Pinduoduo Inc. (NASDAQ: PDD) shares are trading higher on Monday after Bernstein initiated coverage on the company's stock with an Outperform rating and announced an $89 price target.

Pinduoduo provides a platform for buyers with value-for-money merchandise and fun and interactive shopping experiences. The company mobile platform offers a comprehensive selection of priced merchandise, featuring a social shopping experience that leverages social networks as an effective and efficient tool for buyer acquisition and engagement. The company's whole revenue is derived from within the People's Republic of China.

Pinduoduo shares were trading at $72.30 at the open and have dropped to $68.61, trading down 1.56% at the time of publication. The stock has a 52-week high of $73.17 and a 52-week low of $19.10

Related Links:

Pinduoduo Trades Sharply Higher On Q2 Earnings Beat

Pinduoduo Falls 20% On Q3 Earnings Miss

Latest Ratings for PDD

Jun 2020

Bernstein

Initiates Coverage On

Outperform

May 2020

Barclays

Downgrades

Overweight

Equal-Weight

May 2020

B of A Securities

Reiterates

Neutral

View More Analyst Ratings for PDD
View the Latest Analyst Ratings

See more from Benzinga

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.