BlackRock is also a mess$PDD(PDD.US)
BlackRock buys a stake in PDD? Suspected to be a major mistake
On Tuesday, Pinduoduo's stock price surged sharply before falling back. On the news front, documents disclosed by BlackRock on October 21st showed that it significantly increased its stake in Pinduoduo from 29 million shares in the second quarter to over 132 million shares, equivalent to 9.5% of Pinduoduo's total share capital. However, the documents disclosed by BlackRock seemed to be a "major mistake." Around 11:35 pm on the 22nd Beijing time, BlackRock issued another announcement, dividing the number of Pinduoduo shares by 4 to approximately 33 million shares, changing the shareholding percentage to 2.4%. Note: Each ADS of Pinduoduo is equivalent to 4 Class A ordinary shares
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