Despite the shares of many retailers performing poorly due to concerns over the imminent arrival of a certain e-commerce giant, the Kogan.com Ltd (ASX: KGN) share price stormed to an all-time high of $2.01 on Tuesday.
This latest gain means the online retailer's shares have gained over 16% in the last five trading sessions and approximately 45% since the start of the year.
Why have its shares hit a new high?
The majority of Kogan's year-to-date gain has been made in the last month after it announced plans to team up with Vodafone Australia to offer residential NBN internet services in 2018, alongside mobile broadband plans in 2017.
Investors appear confident that Kogan and its budget plans have the potential to mount a real challenge to market leaders such as Telstra Corporation Ltd (ASX: TLS), TPG Telecom Ltd (ASX: TPM) and Vocus Group Ltd (ASX: VOC).
However, here's why one Motley Fool contributor isn't a buyer of its shares right now.
