PDD Holdings Stock Is Beaten Down Now, but It Could 10x

PDD's (NASDAQ: PDD) stock closed at a record high of $202.82 on Feb. 17, 2021. That represented a 10-bagger gain from its IPO price of $19 on July 26, 2018. The bulls were impressed by the Chinese e-commerce leader's explosive growth rates, and the temporary buying frenzy in hyper-growth stocks amplified its gains.But today, PDD trades at about $95. It shed over half of its value as its growth cooled and rising rates compressed its valuations. Escalating tensions between the U.S. and China also drove many U.S. investors away from Chinese stocks. However, I believe PDD still has a shot at delivering another 10-bagger gain over the next decade.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool