Why RISE Education Cayman Stock Soared on Tuesday
Shares of RISE Education Cayman (NASDAQ: REDU) lived up to their name on Tuesday, rising higher after an analyst offered a bullish outlook. This comes after the company reported earnings last week. But even though some analysts are bullish, the size of today's move is a bit of a head-scratcher. As of 12:30 p.m. EDT, RISE stock was up a whopping 52%.
RISE Education is an English-language education company in China. It operates in-person learning centers but can also offer classes online. Since the coronavirus was first reported in China, RISE Education was impacted in the first quarter, with new-student enrollment plummeting. But enrollment was recovering quickly in the second quarter, up 149% quarter over quarter.
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Source Fool.com
