Pinduoduo Inc. PDD shares are trading lower on Wednesday, after Barclays downgraded the company's stock from Overweight to Equal-Weight.
Pinduoduo provides a platform for buyers with value-for-money merchandise and fun and interactive shopping experiences. The company mobile platform offers a comprehensive selection of priced merchandise, featuring a social shopping experience that leverages social networks as an effective and efficient tool for buyer acquisition and engagement. The company's whole revenue is derived from within the People's Republic of China.
Pinduoduo shares were trading down 7.12% at $60.27 on Wednesday. The stock has a 52-week high of $69.69 and a 52-week low of $18.46.
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