Why RISE Education Stock Skyrocketed Today

Shares of RISE Education Cayman (NASDAQ: REDU), a Chinese education company that specializes in English-language tutoring for kids, were soaring today after it announced that its merger with Dada Auto would close after market hours.

It was unclear why the news sent the stock gaining so much today. One possible explanation is that investors were skeptical that the deal would go through after RISE received a delisting warning from the Nasdaq, but those concerns have now been relieved.

The stock closed up 138.5%.

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Source Fool.com