Why Nio, TAL Education Group, Alibaba And Pinduoduo Are Moving Today
Shares of several Chinese companies, including Nio Inc – ADR (NYSE:NIO), TAL Education Group (NYSE:TAL), Alibaba Group Holding Ltd – ADR (NYSE:BABA) and Pinduoduo Inc – ADR (NASDAQ:PDD), are all trading lower following comments from Chinese President Xi Jinping during Chinese Communist Party centenary celebrations.
Shares of Chinese companies have also seen volatility amid renewed COVID-19 concerns in the Asia-Pacific region, including concerns over the Delta variant of the virus.
Nio operates in China's premium electric vehicle market. Nio designs and jointly manufactures, and sells smart and connected premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving and artificial intelligence.
Nio has a 52-week high of and a 52-week low of $66.99 and a 52-week low of $8.70.
TAL Education is one of the leading K-12 after-school tutoring providers in China. The firm offers tutoring services to students from pre-school to the twelfth grade via small classes, one-on-one personalized premium services and online courses.
TAL Education has a 52-week high of $90.96 and a 52-week low of $20.41.
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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