Shares of Chinese online grocery platform Pinduoduo Inc. (PDD) are rising 6 percent on Thursday's trading despite there being no company announcement to impact the stock.
Recently, there had been news reports that company founder Colin Huang had lost two-thirds of his fortune or roughly $42.9 billion in 2021. This follows a nearly 70 percent drop in Pinduoduo shares.
Currently at $57.46, the stock has traded between $51.91 and $212.60 during the past 52 weeks.
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