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China’s Golden Sun Education (NASDAQ:GSUN) stock rallied for the second straight session, climbing 30% in recent trading Thursday.
Shares of the tutorial services provider opened at $28, slipping to a low of $24.75 in early trading before reaching a high of $43.10 in early afternoon. The stock recently changed hands at $35 at around 2:30 p.m. ET. It closed at $27.01 on Wednesday.
Golden Sun stock has been highly volatile in recent sessions. The stock shot up 25% last Thursday on news that it expects to resume in-person learning in Shanghai by the end of the month, which had been suspended since March due COVID-19. The stock then fell for the next three sessions, but closed 23% higher on Wednesday.
The company did not appear to have made any SEC filings or issue any press releases on Wednesday or Thursday.
Golden Sun held an initial public offering on June 22, offering 4.4M shares priced at $4 per share to raise nearly $18M. The company, which is incorporated in the Cayman Islands, provides tutorial services in China.
For a more in-depth look at Golden Sun, check out SA contributor Donovan Jones’s “Golden Sun Education Seeks $23 Million in US IPO”.
Image and article originally from seekingalpha.com. Read the original article here.