Why Gaotu Techedu Stock Was Climbing Today
Shares of Gaotu Techedu (NYSE: GOTU) were gaining today on news that the Chinese government would issue licenses for after-school tutoring companies like Gaotu, according to The Wall Street Journal. The report pointed toward a sign of stability for an industry that has been wracked by Beijing's announcement in July that tutoring companies would be banned from making profits.
As of 2:06 p.m. EDT, Gaotu Techedu, which was formerly known as GSX Techedu, was up 9.8%.
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Source Fool.com
