KLTHF - Chinese tutoring stocks gain amid report on New Oriental founder insider buying

Chinese tutoring stocks including New Oriental Education (NYSE:EDU) and TAL Education (NYSE:TAL) amid a report about about some insider buying at Koolearn (OTCPK:KLTHF), an online education company owned by New Oriental. New Oriental founder Yu Minhong purchased $3.2M shares of Koolearn shares last week over two days, according to a Global Times report, which cited data from the Hong Kong Stock Exchange. The increased holding comes after Yu's announcement earlier this month that the company will start a platform to sell agricultural products through livestreaming sessions. New Oriental pared some gains after earlier climbing 5%, while TAL Education rose 4.6% and Gaotu Techedu (NYSE:GOTU), formerly GSX, gained 2.2%. Earlier this month, Chinese tutoring firms TAL, New Oriental paring gains as analyst questions report.

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Chinese tutoring stocks gain amid report on New Oriental founder insider buying