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Stock Alert: Laix Jumps 21%

Shares of Chinese artificial intelligence company LAIX Inc.(LAIX) are up 21 percent on Thursday as the company reported a profit for the first quarter, a turnaround from a loss last year.

LAIX posted first-quarter net income of RMB12.2 million or RMB0.24, compared with a net loss of RMB197.0 million or RMB3.99 a year ago.

Quarterly revenues came in at RMB198.5 million, a 13 percent decline from RMB228.3 million in the same period last year.

The stock is currently trading at $1.9097, up $0.3397 or 21% on the NYSE. LAIX has traded between $1.3600 and $11.6500 during the past 52 weeks.

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