Pinduoduo Inc – ADR PDD Shares are trading down 3.97% at $92.95 on Friday afternoon. Shares in several Chinese companies traded lower on Friday on weakness in global stocks amid concerns over US inflation and Fed policy tightening. In addition, shares of China Renaissance fell thereafter Founder Bao Fan reportedly disappeared.

So what’s going on in China?

Bao’s disappearance renewed concerns about a potential Beijing Raid on business and technology leaders in the midst of the President Xi Jinping‘s comprehensive anti-corruption campaign. It is also one of the latest in a string of cases in which senior Chinese leaders have gone missing for no apparent reason.

Bao is a leading Chinese deal broker whose clients include top tech giants like Didi and Meituan…Continue reading

According to data from Gasoline ProPDD has a 52-week high of $106.38 and a 52-week low of $23.21.