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Stock Alert: GSX Techedu Down 22% On Q3 Loss

GSX Techedu Inc. (GSX) shares are declining on Friday morning trade as the company reported loss for the third quarter, compared to profit in the prior year.

Currently, the shares are at $54.94, down 22.97 percent from the previous close of $71.35 on 6,562,892. The shares have traded in a range of $54.00 to $59.20 on average volume of 3,871,769 for the 52-week period.

For the third quarter, the company posted loss of RMB 932.51 million, while it reported profit of RMB 1.90 million in the year-ago third quarter.

The technology-driven education company's revenue for the quarter surged 252 percent to RMB 1.965 billion from RMB 556.99 million a year ago.

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