(RTTNews) - Shares of Vipshop Holdings Limited (VIPS), a China-based online discount retailer, are gaining almost 14 percent or $2.43 in Friday's morning trade at $20.08 despite no company-centric news that could push the stock higher.
U.S. stocks are rising on Friday after a report from the Commerce Department showing much stronger than expected U.S. retail sales growth in the month of September. Investors also reacted positively to the latest news regarding negotiations between House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin over a new stimulus bill.
Vipshop has traded in a range of $9.30 to $24.46 in the past 52 weeks.
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