Stock Track | Gaotu Techedu Plunges 14% Premarket as Optimism Over China Stimulus Fades

Stock Track

Oct 08, 2024

Shares of Gaotu Techedu Inc. (GOTU), a leading Chinese online education platform, plummeted 14.19% in premarket trading on Monday, October 8, 2024, as optimism over China's economic stimulus measures faded among investors.

The decline in Gaotu Techedu's stock price was part of a broader selloff in U.S.-listed Chinese stocks, which came after Zheng Shanjie, chairman of China's National Development and Reform Commission, failed to provide detailed plans to bolster market confidence during a conference.

Chinese stocks initially opened higher after a week-long break, but quickly lost steam as investors grew concerned about the lack of concrete measures from the government to support the economy. Alongside Gaotu Techedu, other Chinese companies, including e-commerce giants like Alibaba and JD.com, electric vehicle makers like NIO and Xpeng, and technology firms like Baidu and Bilibili, witnessed significant premarket declines.

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(GOTU), a leading Chinese online education platform, plummeted 14.19% in premarket trading on Monday, October 8, 2024, as optimism over China's economic stimulus measures faded among investors.</p>\n\n<p>The decline in Gaotu Techedu's stock price was part of a broader selloff in U.S.-listed Chinese stocks, which came after Zheng Shanjie, chairman of China's National Development and Reform Commission, failed to provide detailed plans to bolster market confidence during a conference.</p>\n\n<p>Chinese stocks initially opened higher after a week-long break, but quickly lost steam as investors grew concerned about the lack of concrete measures from the government to support the economy. Alongside Gaotu Techedu, other Chinese companies, including e-commerce giants like Alibaba and JD.com, electric vehicle makers like NIO and Xpeng, and technology firms like Baidu and Bilibili, witnessed significant premarket declines.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GOTU","symbol_name":"高途","start_time":0,"source_url":"","article_id":"1164109268","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1164109268","pubTimestamp":1728379243,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Gaotu Techedu Inc. , a leading Chinese online education platform, plummeted 14.19% in premarket trading on Monday, October 8, 2024, as optimism over China's economic stimulus measures faded among investors.The decline in Gaotu Techedu's stock price was part of a broader selloff in U.S.-listed Chinese stocks, which came after Zheng Shanjie, chairman of China's National Development and Reform Commission, failed to provide detailed plans to bolster market confidence during a conference.Ch","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"GOTU":"高途"},"translate_title":"由于对中国刺激措施的乐观情绪消退，股票赛道高途科技盘前暴跌14%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GOTU":1},"content_text":"Shares of Gaotu Techedu Inc. (GOTU), a leading Chinese online education platform, plummeted 14.19% in premarket trading on Monday, October 8, 2024, as optimism over China's economic stimulus measures faded among investors.\nThe decline in Gaotu Techedu's stock price was part of a broader selloff in U.S.-listed Chinese stocks, which came after Zheng Shanjie, chairman of China's National Development and Reform Commission, failed to provide detailed plans to bolster market confidence during a conference.\nChinese stocks initially opened higher after a week-long break, but quickly lost steam as investors grew concerned about the lack of concrete measures from the government to support the economy. 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