- The stock price of Pinduoduo Inc (NASDAQ: PDD) increased by 12.53% today. This is why it happened.
The stock price of Pinduoduo Inc (NASDAQ: PDD) increased by 12.53% today. Investors appear to be responding positively to a statement from Goldman Sachs via SCMP that Pinduoduo is one out of 27 US-traded stocks that are eligible to list in Hong Kong.
But the sentiment is currently fragile as the American depositary receipts (ADRs) of Chinese companies and tech companies in Hong Kong fell following Didi Global’s decision for delisting in the US due to a cybersecurity probe by the Chinese government. And a Hong Kong listing would
Pinduoduo and NIO are the largest Chinese ADRs in the list that were compiled by Goldman with a market value of US$114.3 billion and almost US$70 billion respectively.
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