Shares of several Chinese stocks, including Pinduoduo Inc - ADR PDD, are trading lower after retail sales and industrial production in July grew slower than economists had originally forecast.
Shares of some Chinese companies have also been trading lower throughout the month of August amid continued regulatory concerns and COVID-19 Delta variant pressures.
Pinduoduo provides a platform for buyers with value-for-money merchandise and fun and interactive shopping experiences. The company's 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.
At last check, Pinduoduo was trading lower by 3.4% at $81.52. Pinduoduo has a 52-week high of 212.60 and a 52-week low of $69.89.
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