Chinese Education Stocks Surge with Gaotu (GOTU) Leading Gains

Dec 09, 2024

On Monday, Chinese education stocks experienced significant gains. New Oriental (EDU) saw an increase of over 6.6%, while TAL Education Group (TAL) rose by more than 8%. Gaotu Techedu (GOTU, Financial) led the surge with an impressive gain of over 9.5%.

The positive movement in Gaotu's stock was influenced by its strong financial performance. In the third quarter of 2024, Gaotu reported net revenue of 1.2083 billion yuan, marking a 53.1% year-over-year growth.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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