RTTNews | Dec 30, 2021 10:49AM EST

10:49 Thursday, December 30, 2021 (RTTNews.com) - Shares of Chinese online grocery platform Pinduoduo Inc. (PDD) are rising 6 percent on Thursday's trading despite there being no company announcement to impact the stock.

Recently, there had been news reports that company founder Colin Huang had lost two-thirds of his fortune or roughly $42.9 billion in 2021. This follows a nearly 70 percent drop in Pinduoduo shares.

Currently at $57.46, the stock has traded between $51.91 and $212.60 during the past 52 weeks.

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