Here's Why Pinduoduo Stock Headed Higher on Friday

Shares of Chinese e-commerce giant Pinduoduo (NASDAQ: PDD) headed higher on Friday after the company reported unaudited results for the first quarter of 2020. As of 2:30 p.m. EDT, the stock had gone up 12%.

Investors are celebrating Pinduoduo's across-the-board growth, despite the quarter running through the worst of the COVID-19 outbreak in China. After today's move, shares are trading near all-time highs.