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Koolearn Shares Shoot Up 100% After Livestreaming Goes Viral

  • Chinese education firm rallies to erase losses from crackdown
  • Shares still down more than 70% from their July 2020 peak
Updated on

A Chinese education company staged a meteoric rally of as much as 100% Monday as the company’s endeavors into livestreaming e-commerce went viral. 

Koolearn Technology Holding Ltd. closed up 40%, adding to a similar surge on Friday after videos of the firm’s tutors teaching English while selling merchandise attracted interest online. The attempts come after the shares suffered brutal losses following moves by Beijing last summer banning companies that teach the school curriculum from making profits.