Bull&Bear | Chinese Education Stocks Surge Amid Bullish Market Sentiment

Mover TrackerThursday, Sep 26, 2024 6:00 pm ET

1min read

In the realm of bullish stocks, several companies have demonstrated notable gains.

Gaotu Techedu Inc. (GOTU) surged by 27.49%. The U.S. stock market saw a strong performance from Chinese education stocks during the trading session, with Gaotu leading the charge.

TAL Education Group (TAL) rose by 23.56%. This keen interest in Chinese education stocks underscores the market’s bullish sentiment, with TAL also showing significant strength.

Emergent BioSolutions (EBS) climbed 22.56%. The company announced it has executed a contract option valued at $67.4 million to acquire additional TEMBEXA (Brincidofovir) to support national emergency preparedness efforts.

Adaptive Biotechnologies Corp. (ADPT) gained 22.50%. The company announced that ClonoSEQ has received IVDR certification in the European Union.

AXT Inc. (AXTI) increased by 20.59%. Craig-Hallum maintained a buy rating on AXT Inc., reflecting strong future growth expectations.

On the bearish side, several companies experienced significant declines.

Pagaya Technologies Ltd. (PGY) fell by 22.49%. The drop in stock price is attributed to the company’s financial performance not meeting market expectations, leading to investor concerns about its future profitability.

Concentrix Corp. (CNXC) declined by 18.99%, marking a continuous two-day drop, totaling a 19.27% decrease. Despite reporting higher earnings and operating income for the third fiscal quarter, the company’s stock dropped as it lowered its full-year earnings per share guidance.

Neonode Inc. (NEON) decreased by 17.59%, with a two-day decline totaling 20.38%. Despite the loss, shareholders express confidence, as the stock had surged by 132% over the past year, marking a 218% annual growth.

Super Micro Computer, Inc. (SMCI) dropped by 12.17%, continuing a three-day decline of 13.64%. The stock was affected by an investigation initiated by the U.S. Department of Justice.

enGene Holdings Inc. (ENGN) fell by 12.00%. This decline follows the company’s announcement of preliminary data from its LEGEND study on EG-70 (Delatimogene Voreplasmid).

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