Pinduoduo (NASDAQ:PDD) shares are trading sharply lower on Wednesday after the company reported worse-than-expected third-quarter EPS and sales results.
The company reported quarterly losses of 20 cents per share, which missed the analyst consensus estimate of an 8-cent loss by 150%.
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The company reported quarterly sales of $1.051 billion, which missed the analyst consensus estimate of $1.06 billion by 0.85%.
Pinduoduo shares were trading trading down 22.37% at $31.61 in Wednesday’s pre-market session. The stock has a 52-week high of $45.25 and a 52-week low of $18.46.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.