HomeFinancial MarketsMeten Edtechx Ltd. (METX) stock declines during pre-market trading given no current...

Meten Edtechx Ltd. (METX) stock declines during pre-market trading given no current news

Meten Edtechx Ltd. (METX) stock plunged by 29.42% at the last close while the METX stock price fell by 8.64% in the pre-market trading session. Meten EdtechX is a prominent English language and skill development company in China, providing English language and skills education to Chinese students and professionals.

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More about METX Stock,

Meten (adult and junior ELT services), ABC (mainly junior ELT services), and Likeshuo (adult and junior ELT services) are the three best and well-known brands that METX offers through a smart digital platform and a countrywide network of learning facilities (online ELT). To keep up with the increasing pace of globalization, METX is committed to enhancing the general English language competency of the Chinese people.


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METX Stock Recent Significant Update

On July 21. 2021 Meten EdtechX Education Group Ltd. said that gross billing and student enrolment in its junior ELT business rose by 316.9% and 240.9%, respectively, in the first half of 2021 relative to the same time last year, and by 97.9% and 64.4 percent, in both, compared to June 2020.

Meten EdtechX’s junior ELT business gross billing grew by 97.5 percent year over year in June 2021, and by 21.3 percent when compared to the same month in 2019. Meten EdtechX has recovered to its pre-pandemic growth track, according to these data.

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Furthermore,

Meten Edtechx is rapidly developing its junior ELT business within its present network of 22 locations, and the market response has been very favorable. In June 2021, gross revenue from student renewals and referrals amounted for 54.5 percent of the total gross billing of the Company’s junior ELT business, indicating that students and their parent’s value and acknowledge METX’s services. METX will continue to expand the junior quality-oriented education industry despite recent legislative changes.

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