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GSX - GSX Techedu falls despite double upgrade to buy at Citi after 42% plunge on Friday
GSX Techedu Inc. American Depositary Shares three of which representing two Class A
GSX Techedu (GSX) fell 1.8% in premarket trading despite an upgraded to buy from sell at Citi following a 42% plunge in shares of the Chinese online tutoring company on Friday.Citi says the market fears on the selloff due to forced selling and concerns abut government regulation are overdone, analyst Mark Li write.Citi also opened a positive catalyst watch on GSX and expects the share price will recover from the forced selling. GSX price target cut to $56 from $66.Yesterday, GSX Techedu short sellers seeing vindication in stock plunge.