Pinduoduo (NASDAQ: PDD) shares are trading sharply lower on Wednesday after the company reported worse-than-expected third-quarter EPS and sales results.
The company reported quarterly losses of 20 cents per share, which missed the analyst consensus estimate of an 8-cent loss by 150%.
The company reported quarterly sales of $1.051 billion, which missed the analyst consensus estimate of $1.06 billion by 0.85%.
Pinduoduo shares were trading trading down 22.37% at $31.61 in Wednesday’s pre-market session. The stock has a 52-week high of $45.25 and a 52-week low of $18.46.