|Bid||81.77 x 3100|
|Ask||82.60 x 1800|
|Day's Range||81.64 - 82.01|
|52 Week Range||57.50 - 97.55|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||-0.06%|
|Beta (5Y Monthly)||0.77|
|Expense Ratio (net)||0.59%|
Shares of Pinduoduo Inc. fell 3.7% in premarket trading Wednesday, even after the China-based mobile marketplace reported a fourth-quarter loss that narrowed more than expected, as revenue more than doubled to beat forecasts. The net loss narrowed to RMB1.38 billion ($210.9 mln), or RMB1.13 per American depositary share, from RMB1.75 billion, or RMB1.52 a share, in the year-ago period. Excluding nonrecurring items, the adjusted per-share loss was RMB0.15, beating the FactSet loss consensus of RMB0.29. Revenue jumped 146% to RMB26.55 billion ($4.07 billion), well above the FactSet consensus of RMB19.19 billion, with increase primarily a result of growth in online marketing services and a contribution from merchandise sales. Average active monthly users rose 50% to 719.9 million, while active buyers increased 35% to 788.4 million and annual spending per active buyer grew 23% to RMB2,115.2 ($324.2). The company had started with agricultural products, to become the largest agriculture platform in China, "and we hope that Pinduoduo can one day become the largest grocer in the world," said Chief Executive Lei Chen. The stock has gained 7.3% over the past three months through Tuesday, while the iShares MSCI China ETF has tacked on 5.6% and the S&P 500 has advanced 6.5%.
China-based Tuya Inc. has set terms of its initial public offering, in which the China-based company, which says its mission is to build an internet-of-thing (IoT) developer ecosystem and enable everything to be "smart," could be valued at up to $11.2 billion. Tuya is offering 43.59 million American depositary shares in the IPO, which is expected to price between $17 and $20 a share, to raise up to $871.8 million. Each ADS represents one Class A ordinary shares. The company expects to have 417.36 million ordinary shares outstanding after the IPO, and 142.4 million Class B shares. The stock is expected to list on the NYSE under the ticker symbol "TUYA." The lead underwriters are Morgan Stanley, BofA Securities and CICC. Tuya recorded a net loss of $66.9 million on revenue of $179.9 million in 2020, after a loss of $73.9 million on revenue of $105.8 million in 2019. The company is looking to go public at a time that the Renaissance IPO ETF has slipped 0.6% over the past three months, while the iShares MSCI China ETF has gained 6.0% and the S&P 500 has advanced 7.5%.
Shares of Aurora Mobile Ltd. more than doubled toward a two-year high in active premarket trading Friday, after the China-based mobile developer service provider announced a partnership agreement with Kuaishou Technology, the TikTok rival backed by China-based technology giant Tencent Holdings Ltd. , to improve advertising monetization efficiency. Kuaishou went public in Hong Kong on Friday, with the stock nearly tripling in its debut. Aurora Mobile's stock soared 123% on volume of 7.8 million shares ahead of the open, which compares with the full-day average of about 683,000 shares. The company said its advertisement software-as-a-service (SaaS) services will allow Kuaishou to help brands and advertisers to target potential customers and improve conversion rates and cut costs. Aurora's stock had already more than doubled (up 123.6%) over the past three months through Thursday, while the iShares MSCI China ETF had climbed 11.5% and the S&P 500 had gained 10.3%.