Pinduoduomei stock market value
Overcoming Alibaba during trading
Last night, there were also new developments in the external market. Yesterday evening, Pinduoduo's US stock market opened with a rapid rise, with a maximum increase of 4.22% within 15 minutes, surpassing Alibaba to become the top Chinese concept stock in terms of market value. As of the close, Pinduoduo's gains have fallen to 1.96%.
On the other hand, Alibaba continued to decline, closing down 2.68%. As of now, the gap between Pinduoduo and Alibaba's US stock market value has narrowed to less than $2 billion.
In the long run, the stock prices of two stocks with similar main businesses have shown vastly different performances since the beginning of this year. Pinduo has accumulated a cumulative increase of 73.8% since the beginning of many years, with a growth rate of 39.75% in November alone. In contrast, Alibaba's stock price experienced a decline in the first 11 months and 7 months of this year, with a year-on-year decline of 15.22%.
The good performance of Pinduoduo's stock price mainly comes from its impressive performance. The third quarter report released this week shows that Pinduoduo achieved a revenue of 22.112 billion US dollars in the first three months, a year-on-year increase of 74.96%. Among them, in the third quarter, it achieved a single quarter revenue of 9.588 billion US dollars, a year-on-year increase of 93.89%. By contrast, as of the second quarter of this year, Alibaba has had a single quarter revenue growth rate of less than 20% year-on-year for 8 quarters.