Pinduoduo (PDD) Stock Price: Why It Increased 9.73% Today

By Amit Chowdhry ● Jun 8, 2022
  • The stock price of Pinduoduo Inc (NASDAQ: PDD) increased by 9.73% today. This is why.

The stock price of Pinduoduo Inc (NASDAQ: PDD) increased by 9.73% today. Investors are responding positively to a Reuters report that the Chinese government approved the second group of domestic licenses for video games. 

The National Press and Public Administration of China had issued licenses to 60 games. This indicates that the Chinese government is starting to loosen up on the Internet sector. And this was the first time that China had granted new gaming licenses since April 2022. 

China had halted issuing new gaming licenses as part of an effort to put new time limits on how long minors spend playing games online last year. Several other China-based Internet companies also saw stock price increases as a result of this news as well.

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