Pinduoduo (PDD) Catches Eye: Stock Jumps 8.7%

Pinduoduo Inc. PDD was a big mover last session, as the company saw its shares rise nearly 9% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company—as the stock is now up 53.4% in the past one-month time frame.

The company has seen three positive estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few weeks, suggesting that more solid trading could be ahead for Pinduoduo. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.

Pinduoduo currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

Investors interested in the Internet – Commerce industry may consider a better-ranked stock like Booking Holdings Inc. BKNG, which carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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