Why Dada Nexus Stock Rocketed Almost 22% Higher on Tuesday
Dada(DADA) The Motley Fool·2024-09-18 05:55
The company was on the receiving end of a big move by a giant American peer and investor.Chinese delivery company Dada Nexus (DADA 21.70%) was the subject of some rather impactful news on Tuesday. Its former strategic investor sold all of its shares in the delivery company to one of Dada's peers in a move that excited investors. In this market, they piled into Dada's American depositary shares (ADS) to the point where the stock closed the day nearly 22% higher. Making the company a particular outlier was th ...