Why Blue Orca's Aandahl Is Shorting Pinduoduo

The video discusses the short thesis on PDD, China's third-largest e-commerce company. The speaker highlights discrepancies in PDD's financials, including overstated revenues and understated headcount. The valuation of PDD is considered high, with the stock trading above its perceived value. The analysis is based on publicly available information, pointing to differences between SEC filings and Chinese regulatory disclosures. The motivation behind these discrepancies is suggested to be an attempt to inflate the company's stock value.

What is PDD's position in the Chinese e-commerce market?

• Fourth largest

• Third largest

• First largest

• Second largest

Which of the following is NOT one of the issues identified with PDD's financials?

• Accurate net losses

• Exaggerated GMV

• Understated headcount

• Overstated revenues

What is the estimated value range for PDD's stock according to the analysis?

• $5 to $6

• $7 to $8

• $11 to $12

• $9 to $10

How does the valuation of PDD compare to Alibaba according to the report?

• Not compared to Alibaba

• Lower than Alibaba

• Same as Alibaba

• Higher than Alibaba

What is the primary source of information for the report on PDD?

• Confidential company data

• Publicly available information

• Government reports

• Insider information

What is the main reason for PDD's alleged financial misrepresentations?

• To increase product sales

• To comply with Chinese regulations

• To reduce tax liabilities

• To attract more investors

What type of products does PDD primarily sell?

• High-end electronics

• Cheapest goods

• Mid-range products

• Luxury goods