ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

China's Pinduoduo shrugs off short seller allegations

Shares in e-commerce platform up 17% in New York after posting strong sales

HONG KONG -- Tencent Holdings-backed Pinduoduo on Tuesday shrugged off allegations over its accounting practices, insisting it employed the "highest standards" as it reported better-than-expected third quarter earnings.

Shares in Pinduoduo, which recently listed on Nasdaq, have surged despite accusations from Texas-based short seller Blue Orca that China's third largest e-commerce platform was "uninvestable" as a result of differences between figures reported in its listing prospectus and those submitted to the Chinese government. Pinduoduo shares each closed at $23.14 in New York on Tuesday, up 16.6% from Monday.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more