To The Moon

• Here comes WassUp, aka TINA - Tiger Introducing New Alpha, our tips for investing.

• Q3 Shopify and Sea are gaining momentum, while PDD fell short of expectations.

• Stay tuned and supercharge purchasing power with CashBoost!

Market recap

Upward trend of the US stock market continues, and virtual assets are hitting record highs. Over the past week, the $.SPX(.SPX)$ rose for five consecutive trading days, and $Tesla Motors(TSLA)$'s stock price surged by 45% since November 4, the day before the election, adding approximately $350 billion to the company's market capitalization. Cryptocurrency bulls are celebrating as Bitcoin's price briefly surpassed $99,000, making history.

Don't fight the Fed: It’s worthnoting that market expectations are rising for no rate cuts in December. According to the CME FedWatch tool, the current probability of a pause in rate cuts stands at 44%, up from just 17% last week. On the evening of November 27, Beijing time zone, the core PCE price index for October will be released, which is the inflation indicator most closely monitored by the Fed. This week is particularly significant as Thanksgiving coincides with the end of the month, and unexpected market movements cannot be ruled out.

Gold prices are regaining upward support. COMEX gold futures have increased for five consecutive days, with a total gain of nearly 6%, marking the largest weekly increase since October of last year. Although a stronger dollar and reduced expectations for rate cuts have pressured gold, geopolitical factors have once again become a driving force behind its price movements.

$PDD Holdings Inc(PDD)$ : Buy expectations, sell facts

Pinduoduo has gained significant attention due to TEMU. Since its official launch in September 2022, Temu has rapidly expanded across the globe, covering regions including North America, Europe, Southeast Asia, the Middle East, Africa, and Japan and South Korea. As of early 2024, Temu's unique visitors have reached an astonishing 467 million, making it the second-largest player in the global e-commerce market, just behind Amazon.

However, Pinduoduo's Q3 performance fell short of expectations. On November 21, Pinduoduo released its financial report for the third quarter ending September 30, revealing that the company generated revenue of 99.35 billion yuan for Q3 2024, representing a 44% year-on-year growth, but below the market expectation of 102.83 billion yuan. The net profit attributable to shareholders was 24.998 billion yuan, a decrease of 22% from the previous quarter.

Pinduoduo's growth rate has shown signs of slowing down. Notably, in recent quarterly earnings releases, the company has actively downplayed external expectations regarding its growth rate. During the Q3 earnings call, management emphasized that beyond financial metrics, Pinduoduo places greater importance on the long-term value brought by ecological investments.

Home field advantage: $Shopify(SHOP)$ vs $Sea Ltd(SE)$

Shopify is a company that assists merchants in establishing their e-commerce operations, holding approximately 30% of the market share in the US e-commerce sector.

In Q3, Shopify's Gross Merchandise Volume (GMV) increased by 24% year-on-year, with quarterly revenue reaching $2.16 billion, a 26% year-on-year rise that exceeded expectations.

The company anticipates that in Q4, revenue growth will remain between 25% and 29%, surpassing Wall Street's expectation of 22.8%. This projection signifies that Shopify's revenue will maintain over 25% growth for seven consecutive quarters, which is an impressive achievement.

Sea was established in Singapore in 2009, focusing its operations on the Southeast Asian market. In Q3, its GMV reached $24.1 billion, representing a nearly 25% year-on-year growth, significantly surpassing the market expectation of a 22% increase. The company's overall revenue reached $3.81 billion, marking a 31% year-on-year growth, also exceeding market forecasts. Recently, the Indonesian government announced a ban on cross-border e-commerce operations for platforms like Temu and Shein, allowing local leader Sea to benefit from the situation.

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