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GSX Techedu Is Soaring Again. Here's Why It's Up 28.6% Today

GSX Techedu Is Soaring Again. Here's Why It's Up 28.6% Today

Shares of GSX Techedu (NYSE: GSX) are soaring nearly 29% higher in midday trading as the Chinese remote education specialist rides the short squeeze wave hitting other heavily shorted stocks. Over 22% of GSX stock is sold short, giving it a short interest ratio of almost 14 days (anything over seven days is considered a lot). Of the 148 stocks with 20% or more of their sales sold short, 115 of them (77%) are trading higher today, a day when the broad market indexes themselves are tumbling by several hundred points.