5 Best Asian Stocks to Buy Now

4. Pinduoduo Inc. (NASDAQ: PDD)

Number of Hedge Fund Holders: 56 

Founded in 2015, Pinduoduo Inc. (NASDAQ: PDD) is an agriculture-centric technology company in China. Even in such a short time, the company has become one of the fastest-growing retailers in China with a market cap of $152 billion. In Q1 2021, it generated over $3.4 billion in revenues, compared with $1.02 billion during the same period last year. The analysts are expecting an 80% year-over-year growth in revenue in 2021.  

At the end of Q1 2021, 56 hedge funds have stakes in Pinduoduo Inc. (NASDAQ: PDD), up from 54 funds in the previous quarter. 

Tao Value, an investment management firm, published its first-quarter 2021 investor letter. The firm has mentioned Pinduoduo Inc. (NASDAQ: PDD) in its letter. Here is what it has to say: 

“Pinduoduo reported a strong quarter, reporting MAU of 720 million, now surpassing Taobao. However, it was overshadowed by a bigger news on Colin Huang resigning from Board and completely disassociating himself from PDD’s management & operation. Huang explained in his letter to shareholders that he would start fundamental research initiatives in food science. Although not entirely shocked (as he already stepped down from CEO July 2020), I am surprised by the fast pace of such transition. I remain confident in the organization and the culture Huang built but will monitor it closely.”