Pinduoduo Inc (NASDAQ:PDD) shares are trading higher Tuesday alongside several Chinese companies in possible anticipation of the country's "618" holiday shopping event.
China's annual mid-year "618" shopping festival kicks off this weekend in what has historically been the country's second-largest shopping event by sales. About 250,000 merchants and brands from around the world took part in the event last year, which was up more than 100% from 2020, according to several reports.
