Why Dada Nexus Stock Was Gaining Again Today

Chinese stocks rallied again on the day. Roughly a week after the People's Bank of China announced a surprise 50-basis-point rate cut, the rally in beaten-down Chinese stock was continuing today. Momentum from last week's gains, fear of missing out on the rebound, and a surge in Chinese indexes during China's trading session lifted Dada Nexus (DADA 5.30%), though an early morning pop faded over the course of the trading session. As of 11:52 a.m. ET, Dada Nexus stock was up 5% on the news after gaining as mu ...