Why Alibaba And Pinduoduo Shares Are Moving Today
Alibaba Group Holding Ltd – ADR (NYSE:BABA) and Pinduoduo Inc – ADR (NASDAQ:PDD) shares are trading lower by 2% and 4% amid renewed COVID-19 concerns in the Asia-Pacific region, including concerns over the Delta variant of the virus.
Alibaba is the world's largest online and mobile commerce company, measured by GMV (CNY 6.6 trillion/$1 trillion for the fiscal year ended March 2020). It operates China's most-visited online marketplaces, including Taobao (consumer-to-consumer) and Tmall (business-to-consumer).
Alibaba has a 52-week high of $319.32 and a 52-week low of $204.39.
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.
Pinduoduo has a 52-week high of $212.60 and a 52-week low of $69.89.
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