Rise Education Cayman Ltd (REDU) is an innovative junior English language training provider. Some of the educational programs by the company include the sale of course material, study tours, and a variety of educational courses. The company also provides consultation services regarding tests and admissions. The company also offers STEAM courses enrollment that includes integration of various subjects such as science, technology, engineering, arts, and math.
The price of REDU stock during the regular trading on December 23, 2021, was $0.53 with a significant increase of 5.04%. At last check in the premarket on December 27, 2021, the stock was remarkably up by 14.45%.
REDU: Events and Happenings
On December 23, 2021, REDU reported the outcomes of the Company’s extraordinary general meeting of shareholders held on the same date. Shareholders at the meeting, via a resolution, approved various matters of interest.
On December 1, 2021, REDU reported that Wuhan Xinsili Culture Development company, Rise Education Information Consulting company, Beijing Step Ahead Education Technology Development company, RISE Education International company and Rise IP Limited company had partnered for a purchase agreement.
On November 22, 2021, REDU reported about the resignation of Ernst & Young Hua Ming LLP. It was independent registered public accounting firm of REDU. The decision was effective from November 19, 2021. On October 27, 2021, REDU reported about the receipt of an initial proposal letter on October 18, from the company’s CEO. The letter was forwarded with regards to substantially purchase all the assets of Rise Education Information Consultation Company, and Beijing Step Ahead Education Technology Development Company.
On October 8, 2021, REDU reported the receipt of letter from Nasdaq. The letter indicated that REDU was not complying with the least bid price obligation of US$1.00 per share.
On August 16, 2021, REDU updated that the company had not published the quarterly earnings report. The company will inform soon about its recent earnings report.
Conclusion
The REDU stock is 10% down from the past month. The company is remarkable in its premarket performance and reported 15% surge in the stock price mainly due to the success of its general meeting of stockholders. It points out the successful strategies of the company which attracted the potential investors.
