Pinduoduo Inc - ADR PDD shares are trading lower by 7.58% to $66.72 Tuesday afternoon. Shares of several Chinese companies at large are trading lower amid continued COVID-19 lockdowns in China.
What Happened?
The Chinese city of Chengdu has asked the majority of its 21 million residents to stay home for three more days, as officials continued to fight flare-ups of COVID-19 elsewhere in the country, reported the Wall Street Journal.
China also said it would accelerate its stimulus rollout in the third quarter in an attempt to recover from the prior quarter marred by pandemic-related losses...Read More
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According to data from Benzinga Pro, Pinduoduo has a 52-week high of $109.00 and a 52-week low of $23.21.
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