Pinduoduo's (NASDAQ: PDD) stock price plunged 14% on March 20 after it posted its fourth-quarter earnings report. For the full year, Pinduoduo's revenue grew 39% to 130.56 billion yuan ($18.93 billion) -- decelerating from its 58% growth in 2021 -- but its adjusted earnings per ADS nearly tripled to 27.45 yuan ($3.98) per share. Let's see why Pinduoduo's stock tumbled -- and why I believe it's still a great growth stock for investors who can tune out the near-term noise.
Just as in all downturns in the past, the economy will recover, and the stock market will rebound as well. If you're able to invest in the stock market today and are willing to buy and hold for multiple years, three stocks you should consider loading up on are Alibaba Group Holdings (NYSE: BABA), Comcast (NASDAQ: CMCSA), and Gilead Sciences (NASDAQ: GILD). Chinese internet giant and media company Alibaba has seen its share price collapse over the past three years, with its value nosediving by more than 50%.
Alibaba (BABA) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.