Why Onion Global Stock Is Skyrocketing Today

Shares of the Chinese e-commerce company Onion Global Ltd. (NYSE: OG) spiked today after the company announced a new events initiative designed to promote its private-label products and brands.

The tech stock was up by 28% as of 11:51 a.m. EDT. 

Onion Global announced today that it would host ongoing "LUCA Elite Club" events intended to "provide in-depth brand knowledge" to the company's social media influencers, known as "key opinion consumers" (KOCs).

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Source Fool.com