On Wednesday, March 20th, Pinduoduo (PDD) will release its 2023 fourth quarter and full year financial report before the US stock market opens, and will hold an earnings conference at 7:30 am Eastern Time (7:30 pm Hong Kong Time).Is there a pattern in PDD's stock price movement after the annual report? Looking back at the performance after previous Q4 financial reports, the outlook may not be optimistic:<blockquote>Annual report released on March 11, 2020, followed by a 6.98% decline;Annual report released on March 17, 2021, followed by a 7.10% decline;Annual report released on March 21, 2022, followed by a 6.13% decline;Annual report to be released on March 20, 2023, followed by a 14.17% decline.</blockquote>Will this time be different?

In the past five years, Pinduoduo's stock price has dropped by at least 6% after releasing its Q4 financial report, and even dropped by over 14% last year! This Wednesday, on March 20th, Pinduoduo will release its annual report. Will it be different this time?

Does Pinduoduo always experience a significant drop after its Q4 financial report?