Why did PDD stock plunge 14% Monday? Earnings and sales miss forecasts
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Chinese e-commerce company PDD Holdings (NASDAQ:PDD), the parent of Pinduoduo, started the week on a rough note Monday, as its shares fell more than 14% following a disappointing quarterly earnings report.
Prior to the start of trading, PDD (PDD) reported a fourth-quarter profit, excluding one-time items, of $1.21 a share, on revenue of $5.78B. However, Wall Street analysts had forecast PDD (PDD) to earn $1.24 a share, on $5.92B in sales.

PDD (PDD) specializes in being a low-cost platform for consumers to use to get discounts from retailers. The company had seen sales and earnings grow through the COVID-19 pandemic and China imposed strict restrictions and lockdowns on people's ability to socialize and engage in public activities.
Wall Street analysts have a consensus strong buy rating on PDD's (PDD) stock, while Seeking Alpha authors give the shares a rating of buy. Seeking Alpha's Quant System, which historically outperforms the stock market, has given PDD's (PDD) stock a more-modest hold rating.