Dingdong (Cayman) Ltd. (DDL) is a leader in providing fresh food to consumers via its e-commerce-based shopping experience in China. Its shares rocketed by 45.9% to be $6.86 during Tuesday’s regular trading. Its price further moved up as of the writing in the premarket session on April 6, by 1.31%. The one-year price range of its shares on the lower side is $2.51, while the higher side is $46.0 with a market cap of $1.61 billion.
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DDL: Recent Developments
On April 5, an analyst firm provided updates on the recent rocketing stock prices of DDL. The firm attributed the gain to the revision of confidentiality rules by the Chinese authorities relating to offshore listings as no company-specific reports or regulatory filings are involved in leaping stock prices. The projected revision would likely settle the audit dispute between China and the US, as a result of which 270 Chinese companies will be delisted from US stock exchanges by 2024. The new suggestion eliminates the on-site inspection obligation of offshore listings carried out mostly by Chinese authorities. The Chinese SRC stated the plan is estimated to support cross-border regulatory cooperation, which will safeguard international investors’ interests.
DDL: Industry Outlook
DDL stock belongs to the food and staples industry and according to analysts, the consumer staple industry performs well in turbulent market times so, it commonly acts as a safe harbor for investors. The experts also suggest more stable profit levels by the food staple businesses in constricting economic conditions as they have much more margin. Also, the food staple prices jumped in the past few weeks as an outcome of the conflict. As Russia and Ukraine are vigorous suppliers of several food staples, so the supply interruptions will be felt globally.
DDL: Company Outlook
The company’s fourth fiscal quarter 2021 revenues surpassed the estimations by $22.6 million, along with topping the EPS estimates by $3.36. For the first fiscal quarter of 2022, the analysts predict a posting of $728 million in revenue with -$2.54 EPS. Also, DDL updated its share repurchase program for $30 million in December.
DDL stock is 45% up in March. Its stock is also gaining momentum in Wednesday’s premarket session as the insiders reported the Chinese authorities are revising the confidentiality rules in the best interest of Chinese companies.