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China’s Golden Sun Education Group (GSUN) stock shot up 45% to hit an all-time high on Wednesday.
Shares of the tutoring services company opened at $39.74, hitting a low of $38.83 in early trading before soaring to a high of $72.99 in early afternoon. The stock recently changed hands at $57 at around 1:30 p.m.
The run-up came amid no apparent news or SEC filing by the company.
Golden Sun went public on June 22 through an $18M initial public offering, with shares priced at $4 apiece. Shares soared over 300% following their debut, ending their first session at $16.30. The stock has been highly volatile since, reaching a 52-week high of $72.99 on Wednesday.
Around 0.87% of the company’s 6M shares float were held short as of July 15, according to Yahoo Finance data.
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.