Pinduoduo's share price soared for two consecutive days after the third quarter of 2020 results were released.
U.S. stocks closed Friday,Pinduoduo shares rose 12.73% to $151.29; at closing price,Pinduoduo has a market value of $181189 millionA new record.
At Thursday's close, pinduoduo shares closed up 20.4 percent at $134.21 per share, with a total market value of more than $160 billion.
On November 12, pinduoduo released its financial report for the third quarter of 2020, with revenue of 14.209.8 billion yuan in the third quarter, up 89% year on year.First profit since listingNon-US accounting standards earned 450 million yuan, compared with a net loss of 1.6604 billion yuan in the same period last year.
According to the financial report,In the third quarter, the average monthly active users of pinduoduo app reached 643.4 million, an increase of 50% over the same period last year, and an increase of 74.6 million in a single quarter. In the 12 months to the end of September, the transaction volume of pinduoduo platform reached 1457.6 billion yuan, up 73% year on year.
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