Streetbeat News

PDD

PDD Holdings Inc.

https://www.pddholdings.com

Industry

Specialty Retail

PDD Holdings Inc., through its subsidiaries, operates an e-commerce platform in the People's Republic of China. It owns and operates a portfolio of businesses, including Temu, an e-commerce marketplace in the United States; and operates Pinduoduo, a mobile platform that offers a range of products, including apparel, shoes, bags, mother and childcare products, food and beverages, fresh produce, electronic appliances, furniture and household goods, cosmetics and other personal care items, sports and fitness items, and auto accessories. The company was formerly known as Pinduoduo Inc. and changed its name to PDD Holdings Inc. in February 2023. PDD Holdings Inc. was incorporated in 2015 and is headquartered in Shanghai, the People's Republic of China.

Open

114.44

Mkt cap

158B

Volume

8.4M

High

114.64

P/E Ratio

12.27

52-wk high

164.69

Low

112.70

Div yield

N/A

52-wk low

88.01

Bridgewater Associates, founded by Ray Dalio, has a portfolio heavily weighted towards consumer stocks, with significant stakes in Coca-Cola, Costco, and Walmart among others. The hedge fund's latest 13F filing for Q3 2023 shows a 40.63% investment in consumer discretionary and staples stocks. Bridgewater has increased its holdings in companies like Procter & Gamble, Coca-Cola, Costco, PepsiCo, Walmart, McDonald's, and CVS Health, while reducing positions in PDD Holdings, Starbucks, and Johnson & Johnson. This strategy aligns with the recent dip in U.S. inflation, suggesting a potential shift in the economic environment.

Portfolio Pulse from Surbhi Jain

November 15, 2023 | 9:32 pm

President Joe Biden and Chinese leader Xi Jinping met in California to discuss cooperation on climate change and AI, marking a historic summit. They emphasized the importance of the U.S.-China relationship and the need to work together on global challenges. Markets reacted modestly to the news, with slight gains in the SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust (QQQ). The Global X Artificial Intelligence & Technology ETF (AIQ) and the Invesco Solar ETF (TAN) saw more significant increases, while Chinese stocks like Alibaba (BABA), PDD Holdings (PDD), and NIO Inc. (NIO) rallied. Bitcoin (BTCUSD) also experienced a surge, possibly influenced by Commerzbank AG's new cryptocurrency custody license in Germany.

Portfolio Pulse from Piero Cingari

November 15, 2023 | 8:50 pm

Chinese stocks are trading higher following JD.com's positive Q3 results, indicating a sympathetic response in the market.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 4:54 pm

Investor Kevin O'Leary advocates for banning Chinese companies from listing on U.S. stock markets until they comply with the same accounting and transparency rules as U.S. firms. This stance could impact over 250 Chinese companies listed in New York, including Alibaba, Pinduoduo, JD.com, and NIO. O'Leary calls for greater accounting transparency, a sentiment echoed by the SEC. Previously, five Chinese companies voluntarily delisted from NYSE. Despite his firm stance, O'Leary is optimistic about future cooperation with China, suggesting forceful diplomacy may be necessary.

Portfolio Pulse from Neil Dennis

November 14, 2023 | 2:21 pm

Alibaba Group Holding Ltd (BABA) and JD.com Inc (JD) reported sales growth during China's Singles Day despite economic challenges and competition from ByteDance's Douyin. PDD Holdings Inc's (PDD) Pinduoduo also saw a significant rise in GMV. The event is a key indicator of consumer confidence, which is currently affected by China's economic issues. Alibaba offered aggressive discounts to boost sales, while analysts suggest streaming services may have seen better growth. Consumer spending is shifting towards essentials, with health and wellness products expected to perform well. BABA shares saw a slight decrease in premarket trading.

Portfolio Pulse from Anusuya Lahiri

November 13, 2023 | 1:58 pm

China's Singles' Day, a massive shopping event, outperforms the U.S. Black Friday with significant growth and sales. Major e-commerce players like Alibaba, JD.Com, and PDD Holdings participate, with global brands such as Nike, Lululemon, Estee Lauder, Procter & Gamble, Apple, and L'Oreal benefiting from their presence on Alibaba's Tmall platform. Despite past successes, some brands are cautious about this year's event due to a softer market trend.

Portfolio Pulse from Nabaparna Bhattacharya

November 11, 2023 | 6:20 pm

High-rolling investors have shown bullish sentiment towards PDD Holdings (NASDAQ:PDD), with significant options trading activity observed. Benzinga's options scanner spotted 13 options trades for PDD Holdings, with 61% bullish and 38% bearish sentiment. Major market movers are focusing on a price band between $45.0 and $135.0 for PDD Holdings. The company's trading volume stands at 991,784, with its price up by 0.94%, positioned at $110.68. Two experts released ratings on this stock with an average target price of $146.0.

Portfolio Pulse from Benzinga Insights

November 09, 2023 | 4:02 pm

Goldman Sachs has maintained its Buy rating for PDD Holdings (NASDAQ:PDD) and increased its price target from $137.00 to $155.00. PDD Holdings' shares are currently trading down 0.35% at $106.75 per share. The new price target would represent a 45.2% increase from the current share price.

Portfolio Pulse from Benzinga Insights

November 07, 2023 | 5:00 pm

Goldman Sachs analyst Ronald Keung maintains a Buy rating on PDD Holdings and raises the price target from $137 to $155.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 2:56 pm

The ongoing Israel-Hamas conflict continues to impact the Middle East and global markets. Israeli forces have encircled Gaza City and struck over 450 Hamas targets. U.S. Secretary of State Antony Blinken is undertaking diplomatic efforts in the region. The Israeli shekel strengthened against the dollar, oil prices rose, and gold prices fell. European equities eased slightly, while futures on the S&P 500 and the Nasdaq 100 Indices were up. Chinese-related stocks PDD Holdings Inc. and JD.Com Inc. performed well in premarket trading.

Portfolio Pulse from Piero Cingari

November 06, 2023 | 1:32 pm

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