(Shanghai/Hong Kong Comprehensive News) China ’s social shopping website Pinduoduo’ s market value on Thursday (November 30) surpassed Alibaba, the first Chinese e -commerce giant, and became the largest Chinese stock market in the US stock market.
According to the Shanghai Securities Times, after the opening of the US stock market on Thursday, Pinduoduo's stock price increased continuously, once rose by more than 4%, the market value of the market reached 192.4 billion US dollars (S $ 257.1 billion), and Alibaba's market value was 191.8 billion US dollars,It means that Pinduoduo has surpassed Alibaba for the first time to become the largest market value of the US stock market.
However, Pinduoduo increased later.After closing, Pinduoduo's market value from Alibaba was only $ 2 billion.
According to Bloomberg, Alibaba's stock price in Hong Kong once fell 1.4%on Thursday, and its market value dropped to approximately HK $ 1.46 trillion (S $ 25 billion).EssencePinduoduo rose nearly 2%in the New York stock market on Wednesday.
After the Chinese government made comprehensive supervision and rectification of Internet technology giants such as Alibaba in 2020, a new generation of giants such as Pinduoduo and byte beating began to rise, which is subverting the traditional fields of social media and e -commerce.
Pinduoduo Tuesday (November 28) released a financial report showing that the third quarter of this year's revenue was RMB 68.84 billion (S $ 12.93 billion), an increase of 93.9%year -on -year, far exceeding external expectations.Alibaba's founder Ma Yun urged Ali to change on the same day.Many observers believe that Ma Yun, who has been behind the scenes for three years, has publicly inspired morale to highlight the difficulty of the company's situation.
