Stock Alert: Yunji Jumps 18%

By RTTNews Staff Write  ✉   | Published:

Shares of Chinese e-commerce platform iYunji Inc. (YJ) are currently climbing over 18% on news that it inked an agreement with Douyin, a Chinese live streaming platform owned by Bytedance.

YJ is currently trading at $5.09, up $0.80 or 18.60%, on the Nasdaq.

Yunji signed a cooperative framework agreement with Douyin's e-commerce Business as the company plans to explore the live streaming potential of external platforms in areas as product supply chain, e-commerce streamer resources, and platform traffic.

Yunji aims to leverage its online store and video account on Douyin's E-Commerce Business to introduce and promote more quality products sourced from its differentiated supply chain.

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