Pinduoduo Soars 18% as Revenue Doubles to $9.66B, Approaching Alibaba in Size
- Pinduoduo's (PDD) revenue doubled to $9.66B in Q3 2022, sending shares up 18%
- PDD's market cap now over $183B, approaching Alibaba's $193B market cap
- China Merchants Securities expects PDD to surpass JD.com as China's 2nd largest e-commerce player
- PDD operates the fast-growing Temu app for bargain shopping
- Strong Q3 results well ahead of Wall Street estimates