Shares of Qudian (NYSE: QD) were soaring Monday after the Chinese tech company provided a favorable update on the meal kit business it launched in March under its new division, QD Food.

As of 12:01 p.m. ET, the stock was up 50.4%.

Just four months after QD Food's launch, Qudian said it now has 15 facilities delivering ready-to-cook meals to more than 200 cities and towns across China. 

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Source Fool.com