Why Gaotu Techedu Stock Was Falling Today
Shares of Gaotu Techedu (NYSE: GOTU), a Chinese tutoring company, were tumbling today even as tech stocks were broadly higher for most of the day. There was no company-specific news today, but several Chinese education stocks were down in what seemed to be a rotation out of Chinese stocks and back into U.S. tech names.
As of 2:53 p.m. ET, Gaotu Techedu was down 11.6%.
Image source: Getty Images.
Source Fool.com
