What's Going On With Pinduoduo Stock Exploding Higher?

Pinduoduo Inc - ADR PDD shares are trading higher by 9.09% to $57.69 Monday morning. Shares of several Chinese tech stocks at large are trading higher after Chinese President Xi Jinping committed to investing in core technologies.

What Happened?

Chinese President Xi Jinping, in his Sunday speech that laid out the Communist Party’s agenda for the country over the next five years, has struck an optimistic note on technological development, stressing the need to focus on winning battles in important core technologies.

“We will focus on national strategic needs, gather strength to carry out indigenous and leading scientific and technological research...Read More

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According to data from Benzinga Pro, Pinduoduo has a 52-week high of $104.30 and a 52-week low of $23.21.