Billionaire James Dinan’s Top 5 Stock Picks

3. Pinduoduo Inc. (NASDAQ: PDD)

Billionaire James Dinan initiated a brand new position in Pinduoduo Inc. (NASDAQ: PDD) during the fourth quarter. However, shares of Pinduoduo fell almost 25% since the beginning of this year. It is the third-largest stock holding of York Capital Management.

In the Q4 2020 Investor Letter, Tao Value highlighted a few stocks and Pinduoduo is one of them. Here is what Tao Value said:

“Pinduoduo (ticker: PDD) reported a very strong Q3 2020, beating key KPIs all-around (GMV, active buyers & Revenue). It even surprisingly recorded the first non-GAAP profit (RMB466 million). Yet, the more important development is Duoduo Maicai, a new fresh grocery initiative. It is a natural extension of Pinduoduo’s deep root in agriculture e-commerce, and I think the logistic expertise it accumulated over years should help them compete. It is also a very nascent market, which attracts other tech giants (including Meituan & Alibaba). I will watch very closely on the developments.”