What's Going On with Baidu And Pinduoduo Shares Today?

What's Going On with Baidu And Pinduoduo Shares Today?

Shares of several Chinese companies, including Baidu Inc BIDU and Pinduoduo Inc - ADR PDD, are trading lower following the Russian invasion of Ukraine and in sympathy with Alibaba Group Holding Ltd - ADR BABA after the company reported mixed third-quarter earnings results.

Alibaba reported quarterly earnings of $2.65 per share which beat the analyst consensus estimate of $2.55. The Chinese tech giant otherwise reported quarterly sales of $38.07 billion which missed the analyst consensus estimate of $38.83 billion.

Chinese stocks have also been volatile this week following reports suggesting China asked state firms to check their investments in Jack Ma's Ant Group.

See Also: How The Markets Are Reacting To Russia's Invasion Of Ukraine

Baidu is trading lower by 0.31% at $149.35.

Pinduoduo is trading lower by 2.7% at $50.42.

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