Why Dada Nexus Stock Just Crashed

Shares of recently IPO'ed Chinese online grocer Dada Nexus (NASDAQ: DADA) crashed in response to news of a secondary offering that will further dilute its shareholders Thursday. In 3 p.m. EST trading, Dada Nexus stock is trading down 15%.

And yet, the news shouldn't have come as a complete surprise.

Image source: Getty Images.

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Source Fool.com