The three major US stock indexes are mixed, with Pinduoduo up more than 4% and Tesla down more than 2%
Pinduoduo's Q1 net profit surged 202% year-on-year, with revenue growing by 131%. TAJIT's stock dropped by 10%, marking the largest decline since November 2022
On Wednesday, May 22nd, the three major U.S. stock indexes had mixed performances. The Dow Jones fell by 0.15%, the S&P 500 index dropped by 0.08%, and the Nasdaq rose by 0.08%.
Pinduoduo surged over 4%, with a total market value of $210.2 billion. According to the just released financial report, Pinduoduo's first-quarter revenue was 86.81 billion yuan, exceeding market estimates of 76.86 billion yuan, a year-on-year increase of 131%; adjusted net profit was 30.6 billion yuan, surpassing market estimates of 15.53 billion yuan, a year-on-year increase of 202%.
Among the "Seven Sisters" of U.S. stocks, NVIDIA saw a slight decline, and the company will release its earnings report after hours. Tesla fell by over 2%.
Tajit fell by 10% at one point, marking the largest decline since November 2022.
Updates in progress