Here's What Made Dada Nexus Stock Go Up on Wednesday

Shares of Dada Nexus Limited (NASDAQ: DADA) were up sharply on Wednesday after an analyst upgraded its outlook for the company. The stock has already nearly doubled in 2020, but that didn't keep it from climbing higher today. As of 11 a.m. EST, it was up 10%.

According to The Fly, Goldman Sachs analyst Ronald Keung believes economic trends are in Dada Nexus' favor. Specifically, the coronavirus pandemic has pushed the adoption of online grocery shopping around the world, including in China where this international company operates. 

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Source Fool.com