IPOS - China's Golden Sun Education stock soars 60% after three sessions of declines

Chinese tutorial services provider Golden Sun Education ( NASDAQ: GSUN ) saw its shares soar nearly 60% on Wednesday after three days of declines.

Shares of Golden Sun opened at $21.28, slipping to a low of $18.12 in early trading before climbing to a high of $34.98, up 59% from Tuesday’s close of $21.99. The stock recently changed hands at $33.50 at approximately 2:50 p.m. ET.

Golden Sun shares have been highly volatile in recent days. The stock jumped 25% last Thursday on news that it expects to resume in-person learning in Shanghai by the end of the month, which had been suspended since March due to a COVID-19 outbreak . The stock then fell for the next three sessions.

The company did not appear to have made any SEC filings or issue any press releases on Wednesday.

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.

For a more in-depth look at Golden Sun, check out SA contributor Donovan Jones’s “Golden Sun Education Seeks $23 Million in US IPO”.

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