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The Kogan.com Ltd share price just jumped 10% to an all-time high

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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.

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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia owns shares of Telstra Limited, TPG Telecom Limited, and Vocus Communications Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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