Here's Why Pinduoduo Shares Are Rising 5% Today

Pinduoduo Inc - ADR PDD shares are trading higher by 5.64% to $50.64 Tuesday afternoon in sympathy with JD.Com Inc JD

which reported better-than-expected second-quarter earnings results.

JD said second-quarter revenue increased 5.4% year-over-year to RMB267.6 billion ($40 billion), which beat average analyst estimates of $38.63 billion, according to Benzinga Pro. Product revenues jumped 2.9% year-over-year, while service revenues increased by 21.9%.

The Chinese e-commerce company reported quarterly adjusted earnings of 61 cents per share, which beat average analyst estimates of 40 cents per share... Read More

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According to data from Benzinga Pro, Pinduoduo has a 52-week high of $109.79 and a 52-week low of $23.21.