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Golden Sun Education (NASDAQ:GSUN) stock sank 30% in midday trading Thursday after soaring 126% in the previous session.
Shares of the Chinese tutorial services provider opened at $2.50, climbing to a high of $2.70 in early trading before slipping to a low of $2.03. The stock recently changed hands at $2.41 at approximately 12:30 p.m. ET.
Golden Sun shares rallied Wednesday as well, shooting up 126% to close at $3.43.
The company did not appear to release any news on Wednesday or Thursday, but stated in an SEC filing on Tuesday that its Form 20-F would be filed late.
Golden Sun held a $18M initial public offering on June 22. The stock hit a 52-week high of $95 on Aug. 19, but has been trending downward since late September, sinking to a 52-week low of $0.94 on Dec. 19.
Other US-listed Chinese education stocks include Jianzhi (JZ), Genius Group (GNS) and New Oriental Education (EDU). QuantaSing (QSG) held an IPO last week, raising $41M.