Top 5 Gainers on Wednesday

3. Pinduoduo Inc. (NASDAQ:PDD)

Number of Hedge Fund Holders: 41

Shares of Pinduoduo Inc. (NASDAQ:PDD) rallied over five percent after the opening bell on Wednesday following rumors that the Chinese agricultural-focused technology platform is planning to enter the U.S. market.

Pinduoduo Inc. (NASDAQ:PDD) is believed to be exploring new growth opportunities amid China’s economic slowdown. According to reports, the company is discussing things with its merchant partners before formally disclosing its international expansion plans.

Shanghai-based Pinduoduo Inc. (NASDAQ:PDD) has rapidly increased its shares in China’s highly competitive e-commerce market in recent years. The company, founded in 2015, now competes with the likes of well-established companies like Alibaba.