Pinduoduo (NASDAQ:PDD) is one of China’s fastest-growing e-commerce companies, with more than 700 million average active users. But though analysts expect the company to grow at an accelerated pace in the near term, is PDD a buy at its current price after the SEC adopted the Holding Foreign Companies Accountable Act yesterday? Read more to find out.Pinduoduo Inc. (PDD) is a mobile e-commerce platform that operates in China. Headquartered in Shanghai, PDD is known for its assortment of value-for-money goods and interactive shopping options.
The price of PDD’s ADR has been declining over the past year due to concerns surrounding the potential delisting of Chinese stocks that are non-compliant with the SEC rules.
The stock has declined 66.6% in price year-to-date to close yesterday’s trading session at $59.28.