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Filing: JD-backed Dada Nexus is investigating “suspicious practices”, including a ~$140M overstatement of revenue and costs in 2023, triggering a 46% stock dive
Jane Zhang / Bloomberg :
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JD and Walmart-backed Dada Nexus, which operates on-demand delivery services in China, closed just below $16/share offer, after raising $320M in upsized US IPO
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