GOTU - Chinese education tech stocks mount comeback after brutal week
Education stocks are in recovery mode as traders gauge if last week's selloff was overdone and if tighter COVID restrictions in China will benefit the sector. China regulatory concerns picked up again last week to wreak havoc in the sector. "In just three sessions, over $300 billion was wiped out from the Hang Seng Tech Index’s market capitalization, with ed-tech stocks having plunged 80% or more on the week," notes Roundhill Investments. The Chinese education tech stocks are down sharply for the year. Gainers today include Tarena International (TEDU +41.0%), TAL Education Group (TAL +8.4%), Gaotu Techedy (GOTU +7.4%), Puxin Limited (NEW +6.9%), New Oriental Education & TEchnology Group (EDU +3.1%), China Online Education Group (COE +6.7%), 17 Education & Technology Group (YQ +5.8%), Zovio (ZVO +6.4%), RYB Education (RYB +2.9%), Sunlands Technology Group (STG +1.6%) and RISE Education Cayman (REDU +4.7%). Compare Seeking Alpha Quant Ratings in the education
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Chinese education tech stocks mount comeback after brutal week