Dada Nexus (NASDAQ:DADA) shares are trading higher after the company’s JDDJ and Perfect Diary announced a plan to rollout one-hour delivery services.

Dada Nexus’ stock has been rising Wednesday, up 11.79% to a price of $21.81. The stock’s volume is currently 1.93 million, which is roughly 177.83% of its recent 30-day volume average of 1.09 million.

The stock’s 50-day moving average was $22.91 at the time this article was published. Over the past fifty-two weeks, the price has risen as high as $61.27 and fallen to a low of $17.57.

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