(VIANEWS) – Cathie Wood’s Ark Invest bought more shares of Pinduoduo Inc. (NASDAQ:PDD) on Thursday. This is Ark Invest’s third consecutive purchase in this tech-focused platform for agriculture after months spent reducing its exposure to the Chinese company. Pinduoduo Inc. shares fell 46% this year and closed at $95.86 Thursday.
According to Benzinga’s report, the money management firm purchased 59,300 shares – estimated at $5.68 Million – in Pinduoduo via Ark Fintech Innovation ETF. (NYSE:ARKF).
Ark Invest also bought:
- About $8.22 million of Pfizer Inc (NYSE: PFE) stock, on the dip.
- About $1.75 million in Coinbase Global Inc (NASDAQ:COIN) stock, also on the dip.
Ark Invest also sold:
- About $5.69 million of Jack Dorsey’s Square Inc (NYSE:SQ).
- About $372,362 of Alphabet Inc Class C (NASDAQ:GOOG).
- About $7.75 million Alibaba Group Holding (NYSE:BABA) stock.
Pinduoduo Inc. shares fell 46% this year and closed at $95.86 Thursday.
Shares of Pinduoduo (NASDAQ Composite: PDD) jumped by a staggering 22.85% in 7 days from $77.03 to $94.63 at 17:18 EST on Friday, after two sequential sessions in a row of losses. NASDAQ Composite is rising 1.23% to $15,129.50, following the last session’s downward trend.
Pinduoduo’s last close was $95.86, 54.91% under its 52-week high of $212.60.
Today’s last reported volume for Pinduoduo is 6799843 which is 15.17% below its average volume of 8016642.
The company’s growth estimates for the ongoing quarter and the next is a negative 15300% and a negative 2800%, respectively.
Year-on-year quarterly revenue growth grew by 238.9%, now sitting on 75.12B for the twelve trailing months.
Pinduoduo’s last week, last month’s, and last quarter’s current volatility was a negative 3.39%, a negative 1.91%, and a positive 3.19%, respectively.
Pinduoduo’s current volatility rank, which measures how volatile a financial asset is (variation between the lowest and highest value in a period), was 11.16% (last week), 4.24% (last month), and 3.19% (last quarter), respectively.
Stock Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions,
Pinduoduo’s stock is considered to be oversold (<=20).
Pinduoduo’s Stock Yearly Top and Bottom Value
Pinduoduo’s stock is valued at $94.63 at 17:18 EST, way below its 52-week high of $212.60 and way above its 52-week low of $69.89.
Pinduoduo’s Moving Average
Pinduoduo’s worth is below its 50-day moving average of $94.79 and way under its 200-day moving average of $130.19.
News about Pinduoduo (PDD) today
- Pinduoduo, Alibaba, google, coinbase, Pfizer, Square — these are cathie wood’s key trades from Thursday. According to today’s article on Benzinga, “The New York-based investment firm had in early August sold all the shares that it held in Pinduoduo via the Ark Next Generation Internet ETF (NYSE:ARKW) while still retaining shares via ARKF.”, “The popular money managing firm bought 59,300 shares – estimated to be worth $5.68 million – in Pinduoduo via the Ark Fintech Innovation ETF (NYSE:ARKF).”
Previous days news about Pinduoduo (PDD)
- Pinduoduo stock jumps after surprise profit, although revenue comes up short. According to MarketWatch on Tuesday, 24 August, “Shares of Pinduoduo Inc. jumped 7.1% in premarket trading Tuesday, after the China-based mobile marketplace connecting agricultural producers and consumers reported a surprise second-quarter profit although revenue nearly doubled but missed forecasts. “
- Pinduoduo pledges $1.5 billion of profits to Chinese farmers. According to Bloomberg Quint on Tuesday, 24 August, “Active buyers climbed to 849.9 million in the 12 months to June, Pinduoduo said Tuesday. “
More news about Pinduoduo (PDD).