Pinduoduo Inc.

Intro

Pinduoduo is a mobile-only marketplace that connects millions of agricultural producers with consumers across China. Pinduoduo aims to bring more businesses and people into the digital economy so that local communities can benefit from increased productivity and convenience through new market opportunities.

Technical Analysis

From November 04, 2021, to December 03, 2021, the share price decreased -36% in value to $51.92 due to rising COVID cases. From December 03 to 09, 2021, PDD increased 24% because PDD is listed on the Hong Kong Stock Exchange. From December 09 to January 05, 2022, the share price dropped -27% due to high inflation data in the United States and concerns over the coronavirus worldwide. Today the share price recovered 26% to $60.39 because Fed Chairman Jerome Powell assured investors that the Fed is prepared to tighten monetary policy to maintain price stability.

According to the current technical indicators, the price could continue climbing 15% to $69.60.