PDD Holdings Inc. (NASDAQ:PDD) shares are trading higher Thursday on continued upward momentum. Here’s a look at what’s going on:
What To Know:
PDD Holdings released a blowout third-quarter earnings report Tuesday with quarterly earnings and revenue more than 25% above analyst forecasts and record net income and sales figures.
The stock jumped more than 18% Tuesday as investors digested the financial results, and PDD shares have gained more than 23% over the last five days. The stock reached a new 52-week high of $145.94 on Thursday.
PDD is trading on above-average volume with more than 6 million shares already traded in the session. According to data from Benzinga Pro, the stock’s 100-day average volume is 9.108 million shares.
According to data from Benzinga Pro, shares of PDD are trading well above the stock’s 50-day moving average of $107.06 and remain near its new 52-week high of $145.94.
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PDD Price Action: According to Benzinga Pro, PDD Holdings shares are up by 2.3% at $144.93 at the time of publication.
Image: Mohamed Hassan from Pixabay
