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Why Dada Nexus Zoomed Nearly 12% Higher Today

Eric Volkman, The Motley Fool
·2-min read
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. 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. The Dada/Perfect Diary arrangement will see the two businesses "collaborate deeply in products management, digital marketing, targeted user operations, and order fulfillment optimization with a comprehensive omni-channel retail solution," Dada wrote.

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