5 Best Asian Stocks To Buy Today

4. PDD Holdings Inc. (NASDAQ:PDD)

Number of Hedge Fund Holders: 57

PDD Holdings Inc. (NASDAQ:PDD) operates an e-commerce platform in the People’s Republic of China. The platform offers a range of products, such as apparel, child care products, food and beverages, fresh produce, electronic appliances, household goods, cosmetics, sports and fitness items, and auto accessories. It is one of the best Asian stocks to monitor. 

Morgan Stanley analyst Eddy Wang on March 2 upgraded PDD Holdings Inc. (NASDAQ:PDD) to Overweight from Equal Weight with a price target of $113, up from $77. The analyst believes that the company’s low-priced products and increasing coverage of branded products will enable it to benefit from the long-term trend of consumerism in China. As a result, PDD Holdings Inc. (NASDAQ:PDD) is considered a growth stock in China’s e-commerce industry. Wang also noted that the recent decline in the company’s share price offers a good opportunity for investors to enter the market.

According to Insider Monkey’s Q4 data, 57 hedge funds were bullish on PDD Holdings Inc. (NASDAQ:PDD), compared to 54 funds in the prior quarter. D E Shaw is the biggest stakeholder of the company, with 5.7 million shares worth $468 million. 

Here is what Tao Value has to say about PDD Holdings Inc. (NASDAQ:PDD) in its Q4 2021 investor letter:

“On the detracting side, one of our largest detractors includes PDD Holdings Inc. (NASDAQ:PDD). PDD Holdings Inc. (NASDAQ:PDD) reported the second consecutive GAAP profit quarter yet missed on the revenue due to nation-wide consumption weakness & scaled back Sales & Marketing efforts. Market disliked it and the stock price plunged on the earnings. In my opinion, the accounting profits proved the original thesis of using S&M to acquire users and using great shopping experience to keep them. After realizing the first growth curve, Pinduoduo now shifted its focus & investment to agriculture. It is still very early, but the reduced size due to price drop warrants a position to watch and continue to grow with such a team with a strong culture.”