Long Position on PDD @ $33.00 on 10/7/2019 (Momentum)

Pinduoduo Inc. (PDD) operates an e-commerce platform in the People's Republic of China.

It operates Pinduoduo, a mobile platform that offers a range of products, including apparel, shoes, bags, mother and childcare products, food and beverage, 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 Walnut Street Group Holding Limited and changed its name to Pinduoduo Inc. in July 2018. Pinduoduo Inc. was founded in 2015 and is based in Shanghai, the People's Republic of China.

Shares have formed a bullish "cup and handle" following the company's latest quarterly report. 

On August 21, Pinduoduo Inc ADR (PDD) reported a 2nd Quarter June 2019 loss of $0.12 per share on revenue of $1.1 billion. The consensus estimate was a loss of $0.25 per share on revenue of $865.9 million. Revenue grew 159.4% on a year-over-year basis.

Entry Point: $33.00

Trading Range: $16.53 - $36.89

Stop Loss: $31.35

Target Price: $36.30

Updates

10/28/2019 1:27:43 PM

PDD closed at $41.20

Position closed on 10/28/2019 at price of $41.20 with a 24.85% gain in 21 days.

Back to Portfolio