JD.com (JD, Financial) saw its stock rise by 7.2%, reaching $42.01. The boost follows reports that the company's new food delivery service has shown remarkable growth in some cities. Just a week after its launch, order volumes in certain areas have increased by more than 100 times. JD.com's food delivery service is now available in 39 cities across the country, with nearly 200,000 restaurant partners applying to join the platform.
This significant expansion and uptake indicate a strong initial consumer interest, putting JD.com in a competitive position within the growing food delivery market. The rapid growth in the number of participating businesses further underscores the potential for JD.com's service to capture a substantial market share.
