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Why Dada Nexus Stock Blasted 26% Higher Today

TheMotleyFool

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Why Dada Nexus Stock Blasted 26% Higher TodayPhoto, wide shot, wide-angle lens, Cleaning service, Midday, harsh overhead sunlight, directional sunlightt, photo by Marc Adamus: https://img.theapi.app/temp/66ee0081-ae60-418d-bd6e-b521f7433841.png

China-based food-delivery specialist Dada Nexus (NASDAQ: DADA) delivered some appealing quarterly results to its shareholders. As a result, on Wednesday, the company's share price shot up by almost 26%.

After market hours on Tuesday, Dada Nexus divulged its Q4 of fiscal 2021 figures. These show that revenue dipped slightly on a year-over-year basis, sliding to almost 2.02 billion yuan ($319 million) from 2.03 billion yuan ($322 million).

Dada Nexus would have shown significant growth (nearly 81%) had it not been for one crucial factor.

Source Fool.com

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