Pinduoduo (PDD) Misses Q3 EPS by 20c, Revenues Miss
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 6/13/2026
- Wall Street ends higher as SpaceX's market debut dominates
- SpaceX prices historic IPO at $135/share in largest ever new listing
- 'Ocean of opportunity': Wolfe initiates SpaceX at Buy ahead of historic IPO
- UBS cuts gold price forecasts on delayed Fed easing outlook
- Brent falls to lowest since March on expected peace deal
- NASDAQ adds five companies to NASDAQ-100 index in quarterly rebalance
- Super Micro Computer establishes $1.25 billion stock sale agreement
- Wall Street ends higher as SpaceX's market debut dominates
- 'Ocean of opportunity': Wolfe initiates SpaceX at Buy ahead of historic IPO
- SpaceX Shares Indicated To Open At $155
China's Pinduoduo suffers $11 billion slump in value after big loss
November 20, 2019 5:31 AM ESTBy Akanksha Rana and Sophie Yu
(Reuters) - Chinese e-commerce firm Pinduoduo posted a much wider-than-expected quarterly loss as it fought bigger rivals with heavy subsidies, driving its shares down by nearly a quarter and wiping almost $11 billion off its value on Wednesday.
Pinduoduo's operating costs more than doubled in the third quarter ended Sept. 30 as the company pursued a strategy of wooing wealthier consumers in big cities while maintaining its lead in less urban towns.
That has pitched the four-year old startup against deep-pocketed incumbents such as Alibaba and JD.com, who are aggressively expanding in rural... More
