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By Reuters Staff
2 Min Read
NEW YORK (Reuters) - Shares of artificial intelligence company Laix Inc soared as much as 355% on Friday while those of several other small Chinese educational companies with relatively few shares available to be traded also jumped.
Some of the stocks were being touted on social media websites Reddit and Twitter, though nothing like the recent furor over GameStop Corp that has sent its stock soaring.
Laix shares were up 70.3% at $4.36 in afternoon trading after hitting a high of $11.65 earlier in the session. Shares of Meten Edtechx Education Group Ltd rose 13.9% to $3.12, Sunlands Technology Group was up 10.8% at $1.55, RYB Education Inc jumped 18.1% to $3.19.
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