The American depositary shares (ADS) of Dada Nexus (NASDAQ: DADA) zoomed higher on a busy Tuesday for the Chinese company. A combination of factors powered those ADS nearly 14% higher on the day.
The first, and clearly most influential, factor in Dada's Tuesday triumph was earnings. The food delivery company published its first-quarter figures after market close on Monday, revealing that it grew revenue 52% year over year to 1.67 billion yuan ($261 million). That was on the back of gross merchandise volume (GMV) that rose 79% to just over 28 billion yuan ($4.4 billion).
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Source Fool.com