Why Dada Nexus Zoomed Nearly 12% Higher Today

Chinese food-delivery giant Dada Nexus (NASDAQ: DADA) saw its stock rise by 11.9% on Wednesday. Investors believe the shares are looking more beautiful following news of a fresh collaboration with a peer in that country.

Dada said in a press release that its JD Daojia (JDDJ) unit is partnering with Perfect Diary, a cosmetics business held by beauty products specialist Yatsen Holdings, to provide a new delivery channel for Perfect Diary's offerings.

Image source: Getty Images.

Continue reading

Source Fool.com