5 High Growth NASDAQ Stocks That Are Profitable

4. PDD Holdings Inc – ADR (NASDAQ:PDD)

Number of Hedge Fund Investors: 66

Morgan Stanley in December called PDD Holdings Inc – ADR (NASDAQ:PDD), or Pinduoduo, its top Chinese pick for 2024 and downgraded PDD Holdings Inc – ADR’s (NASDAQ:PDD) competitor Alibaba. Morgan Stanley believes PDD Holdings Inc – ADR’s (NASDAQ:PDD) business model and consumer behavior changes in China would continue to bring more market share for PDD Holdings Inc – ADR (NASDAQ:PDD).

 As of the end of the third quarter of 2023, 66 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in PDD Holdings Inc – ADR (NASDAQ:PDD). The biggest hedge fund stakeholder of PDD Holdings Inc – ADR (NASDAQ:PDD) was Lei Zhang’s Hillhouse Capital Management which owns a $721 million stake in PDD Holdings Inc – ADR (NASDAQ:PDD).