Why did Pinduoduo stock rocket today? Strong Q3 results stoke investor optimism
William_Potter/iStock via Getty Images


Pinduoduo (NASDAQ:PDD) shares jumped more than 12.6% on Monday after the Chinese e-commerce company reported third-quarter results that handily topped expectations.
The Colin Huang-founded company said it earned an adjusted $1.21 per share as revenue rose 65% year-over-year to $4.99B. Analysts were expecting adjusted earnings of 72 cents per share and $4.6B in revenue.

The boost in revenue was attributed to online marketing services and transaction services.
âWe continued to deepen our value creation in the third quarter,â said Mr. Lei Chen, Chairman and Chief Executive Officer of PDD in a statement. âWe will increase our R&D investment to further enhance the supply chain efficiency and agricultural digital inclusion.â
The strong rally in Pinduoduo (PDD) shares on Monday resulted in several Chinese technology ETFs also rising.