Lixiang Education Holding Co. Ltd. (NASDAQ:LXEH) Stock Rockets 55%: What’s the Buzz?
The Chinese education sector may have had a tough time in recent times, but this morning Lixiang Education Holding Co. Ltd. (NASDAQ:LXEH) could be the stock to watch. The noted private education services providing company was in sharp focus yesterday as its stock ended up soaring by 55%.
Lixiang Education Announces Plan to Implement ADS Ratio Change
On September 13, the company announced that it had decided to change the ratio of its American depository shares (ADS) to its ordinary shares. Lixiang Education revealed it wanted to change the new ratio to 1 (ADS) to 100 ordinary shares from 1 (ADS) to 10 ordinary shares. At the time, the company announced that the change was going to go into effect on September 30, 2024.
Hence, the strong rally in the stock was perhaps understandable, and it would now be interesting to see if the Lixiang Education stock can hold on to its momentum through the rest of the week.
The company had also stated at the time that holders of the company’s ADSs would not need to take any action on their own since the ration would be changed automatically. Following the ration change, the company would not issue any fractional ADSs either, the company stated at the time of the announcement.
Technicals
| +/- EMA(20) | 2.72 (+25.37%) |
| +/- SMA(50) | 2.63 (+29.66%) |
| +/- SMA(200) | 15.7 (-78.28%) |
| 5-Day Perf. | +47.62% |
| 1-Month Perf. | +34.89% |
| 3-Month Perf. | -9.14% |
| 6-Month Perf. | -13.67% |
| YTD Perf. | -84.5% |
| 1-Year Perf. | -38% |
| RSI(14) | 61.65 |
| ATR(14) | 0.38 |
| ADX(14) | 22.95 |
| Beta (5Y) | 0.54 |