- The stock price of Wah Fu Education Group Ltd (NASDAQ: WAFU) has increased by over 100% pre-market. This is why it happened.
The stock price of Wah Fu Education Group Ltd (NASDAQ: WAFU) has increased by over 100% pre-market. There is no specific news or SEC reports from the company today so it appears that there are external factors at play.
In this case, it appears that there is coordination on social media around the buying of shares in China-based education companies that have a low float today. Wah Fu Education Group has a 1.18 million share float, which is ideal for day traders. When shares have a lower float, day traders can drive drastic changes to the stock price.
Other Chinese education companies that have seen their stock price increase pre-market includes China Liberal Education Holdings (+40%), Four Seasons Edu (+40%), and Elite Education Group International (+700%). Elite Education Group had actually listed its common shares on the NASDAQ Capital Market yesterday.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.