Stock News Buzz: Pinduoduo Inc. (NASDAQ:PDD)

Pinduoduo Inc. (NASDAQ:PDD) stock observed trading -15.21% off 52-week high price. On the other end, the stock has been noted 89.23% away from low price over the last 52-weeks. The stock disclosed a move of 11.19% away from 50 day moving average and 26.25% away from 200 day moving average. Moving closer, we can see that shares have been trading -8.67% off 20-day moving average. It has market cap of $37951.09M.

On Sept. 29, 2019, Pinduoduo Inc. (NASDAQ:PDD), an innovative and fast growing new e-commerce platform and one of the leading Chinese e-commerce players, revealed that it closed the offering (the Notes Offering) of US$1 billion in aggregate principal amount of convertible senior notes due 2024 (the Notes), which included the exercise in full by the initial purchasers of their option to purchase up to an additional US$125 million in aggregate principal amount of the Notes.

The Notes have been offered in the United States to qualified institutional buyers pursuant to Rule 144A and to non-U.S. persons outside the United States in reliance on Regulation S under the Securities Act of 1933, as amended (the Securities Act). The Notes, the ADSs deliverable upon conversion of the Notes and the Class A ordinary shares represented thereby have not been and will not be registered under the Securities Act or the securities laws of any other place, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities, nor shall there be a sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

About Pinduoduo Inc.

Pinduoduo is an innovative and fast growing new e-commerce platform that provides buyers with value-for-money merchandise and fun and interactive shopping experiences. The Pinduoduo mobile platform offers a comprehensive selection of attractively priced merchandise, featuring a dynamic social shopping experience that leverages social networks as an effective and efficient tool. The China based company Pinduoduo Inc. moved with change of -4.20% to $31.28 with the total traded volume of 15886068 shares in recent session versus to an average volume of 7467.79K. The stock was observed in the 5 days activity at -8.22%. The one month performance of stock was 1.13%. PDD’s shares are at 51.62% for the quarter and driving a 20.03% return over the course of the past year and is now at 39.39% since this point in 2018.The average volatility for the week and month was at 6.17% and 4.57% respectively. There are 1213.27M shares outstanding and 349.18M shares are floated in market.

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