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Dada Nexus Shares Slip 8% On Wider Q2 Loss

Shares of Chinese retail and delivery company Dada Nexus Ltd (DADA) are down 8 percent on Wednesday's trading as the company posted wider loss in the second quarter, hit by higher costs and expenses.

During the quarter, the company posted net loss of RMB640.4 million or RMB0.67 per share, higher than net loss of RMB617.0 million or RMB1.26 per share in the second quarter of last year.

Excluding items, loss was RMB549.2 million or RMB0.58 per share in the second quarter, compared to loss of RMB 390.4 million or RMB0.80 per share in the last year quarter.

Total revenues were, however, up 11.5 percent to RMB1.47 billion from RMB1.32 billion a year ago.

Currently at $24.86, the stock has traded between $17.57 and $61.27 during the past 52 weeks.

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