Meten Edtechx Education Group Ltd (NASDAQ:METX) stock went up on Friday.
Market Action
METX stock moved up 15.32% to end the session at $1.43. More than 114 million shares traded hands – 16.30 X its 30-day average of 7.60 million shares. The stock opened at $1.54 and moved within a range of $1.3400 – 1.6700.
METX Released News Yesterday
Meten EdtechX Reports a 1,910.4% Increase in Gross Billing and an 758.1% Increase in Students Enrollment of its Junior ELT Business in April 2021
- announced that the gross billing and student enrollment of its junior ELT business increased by 1,910.4% and 758.1% respectively in April 2021 compared to the same period of last year. The gross billing and student enrollment increased by 100.6% and 31.0% respectively compared to April 2019.
- In the first four months of 2021, the gross billing of the Company’s junior ELT business increased by 473.8% year over year and gained a 128.6% growth compared with the same period in 2019. The figures confirm that the Company has returned to its pre-pandemic rapid growth trajectory.
- The Company is actively expanding its junior ELT business within its current network of 22 cities and has received positive market feedback. The gross billing from student renewals and referrals accounted for 62.8% of the total gross billing of the Company’s junior ELT business in April, demonstrating that the Company’s services have been widely appreciated and recognized by students and their parents.
- Through leveraging its business experience, vertical expansion strategy and brand influence, the Company expects its junior ELT business to achieve RMB2.6 million in gross billing in the second quarter of fiscal year 2021, which would represent a 300% increase compared to the same period of last year and a 50% growth compared with the second quarter of 2019.
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