IPOS - Asia-based education providers Golden Sun Genius Group slide for third straight session

Shares of Asia-based educational services providers Golden Sun Education ( NASDAQ: GSUN ) and Genius Group ( NYSE: GNS ) fell for the third straight session Tuesday after rallying last Thursday.

China-based Golden Sun shares opened at $35.50 but slid to a low of $20.51 by late morning. The stock recently changed hands at $22.03, down 36% from Monday’s close, at approximately 11:30 a.m. ET.

Singapore-based Genius Group shares, meanwhile, recently changed hands at $3.65, down 30% from Monday’s close, at approximately 11.30 a.m. ET. The stock opened at $5.11, reaching a high of $5.31 in early trading before sinking to a low of $3.23 mid-morning.

Shares of both companies rallied last Thursday amid news that Golden Sun expected to be able to resume in-person tutoring in Shanghai by the end of the month. Genius Group didn’t appear to release any news or make any filings on Thursday. Both stocks lost ground on Friday and Monday.

Golden Sun went public on June 22 , offering 4.4M shares priced at $4 per share to raise nearly $18M. The company, which is incorporated in the Cayman Islands , provides tutorial services in China.

Genius Group, which provides online and in-person educational services for children and adults, went public through a $23 million initial public offering on April 22, offering 3.3M shares at $6 per share.

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