Pinduoduo Stock Pops After Upbeat Results

The company's recent international expansion announcement is giving the shares a boost as wel

Laura McCandless

Deputy Editor

Aug 29, 2022 at 1:38 PM

Pinduoduo Inc (NASDAQ:PDD) stock is surging today, up 16.1% at last glance, and earlier as high as $72.19, after the China-based e-commerce giant's strong second-quarter results. Investors are also eyeing the company's overseas expansion, which was announced just last week.

PDD options are flying off the shelves, with 133,000 calls and 83,000 puts exchanged so far -- 4.9 times the usual daily volume already. The weekly 9/2 70-strike call is the most active, followed by the weekly 9/2 65-strike put, with new positions opening at both.

Though today's pop had PDD earlier hitting a 2022 high, the 320-day moving average appears to be keeping a cap on today's gains. Year-to-date, the equity is up 14.6%, though still down 28.6% year-over-year.

PDD August29

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