Gaotu rallies again, following over 80% gains in the last seven sessions

Gaotu Techedu

15/12/2023 10:25

**  U.S.-listed shares of Chinese online education firm
Gaotu Techedu  GOTU.N  jump 18.0% to $5.63 premarket
    ** GOTU has jumped 86.32% in the last seven sessions
    ** Citi Research's Alice Cai attributes the recent rally to
supporters of  a popular livestream host from rival East Buy
flocking to GOTU's livestream after a recent controversy 
    ** Cai adds that they maintain their "sell" rating on GOTU
until there is an improvement in gross billings or the co shows
it can sustain and convert this traffic surge 
    ** Up to last close, stock had risen 102% so far this year

 (Reporting by Bansari Mayur Kamdar in Bengaluru)
 ((BansariMayur.Kamdar@thomsonreuters.com;  Follow on X:
@BansariKamdar;))