GSX Techedu Is Soaring Again. Here's Why It's Up 28.6% Today
Shares of GSX Techedu (NYSE: GSX) are soaring nearly 29% higher in midday trading as the Chinese remote education specialist rides the short squeeze wave hitting other heavily shorted stocks. It's different from why it soared last week.
Over 22% of GSX stock is sold short, giving it a short interest ratio of almost 14 days (anything over seven days is considered a lot). While that indicates short-sellers are getting squeezed, or being forced to cover their positions at ever-higher prices, it's more just a phenomenon flooding the market at the moment.
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Source Fool.com
