Why Qudian Stock Is Up 56% Today

Qudian Inc QD shares are trading higher Monday after the company highlighted progress in its QD Food brand and said its 717 Foodies Festival fueled sales of approximately 9.56 million dishes.

QD Food said it now has 15 warehousing, assembly and packaging facilities and is delivering products to over 200 cities and towns across China. 

Qudian said peak concurrent viewers reached an impressive high of over 900,000 during the festival. 

"The successful establishment of QD Food is enabling us to seize market opportunities to create a new, accelerated engine for our sustainable growth," said Min Luo, founder, chairman and CEO of Qudian.

Qudian is a consumer-oriented technology company in China.

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QD Price Action: Qudian has traded between $2.11 and 63 cents over a 52-week period.

The stock was up 56.3% at $1.86 at press time, according to data from Benzinga Pro.