Pinduoduo‘s (NASDAQ: PDD) stock plunged 16% to a new 52-week low on Nov. 26 after it posted its third-quarter earnings report.
The Chinese e-commerce company’s revenue rose 51% year over year to 21.51 billion yuan ($3.34 billion), but missed analysts’ estimates by $690 million. However, its adjusted net income surged 575% to 3.15 billion yuan ($489 million), or $0.34 per American depository share (ADS), and beat expectations by $0.30.