To The Moon

$Pinduoduo Inc.(PDD)$Shoots up 18% After Profit More Than Triples, as Consumer Sentiment Recovers

Shares of $Pinduoduo Inc.(PDD)$ shot up 18% in market trading Monday, after the China-based company that connects agricultural producers with consumers reported second-quarter profit that more than tripled and revenue that rose well above expectations, citing "a recovery in consumer sentiment."

Net income grew to RMB8.90 billion ($1.33 billion), or earnings of RMB6.22 per American depositary share (ADS), from RMB2.41 billion, or RMB1.69 per ADS, in the year-ago period.

Excluding nonrecurring items, adjusted net income was RMB10.78 billion. The FactSet consensus for earnings per ADS was RMB2.96.

Revenue climbed 36.4% to RMB31.44 billion ($4.69 billion), beating the FactSet consensus of RMB23.93 billion.

Revenue from online marketing services jumped 39% to RMB25.17 billion and revenue from transaction services soared 107% to RMB6.22 billion, while revenue from merchandise sales dropped 97% to RMB50.7 million. Cost of revenue rose just 0.8%, to boost gross margin to 74.7% from 65.7%.

The stock has rallied 19.2% over the past three months through Friday, while the $iShares MSCI China ETF(MCHI.US)$ has ticked up 0.3% and the $S&P 500 index(.SPX.US)$ has slipped 2.4%.

Still can see that E commerce still have very good opportunities..

@TigerStars   @Daily_Discussion