U.S., European Investment Banks May Have Lost Some $12 Billion As Chinese Education Firms Crashed

  • 📰 Forbes
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 53%

Italia Notizia Notizia

Italia Ultime Notizie,Italia Notizie

U.S. and European investment banks may have lost some $12 billion as Chinese education firms crashed

Billionaire Bernard Arnault Leads LVMH To Big Jump In First Half 2021 Revenues–Net Worth Climbs $2 Billion

Shares of the Chinese tutoring companies have been declining since early 2021. Gaotu’s second biggest shareholder, Goldman Sachs, which owns about a 19% stake per the February SEC filing. At its peak last October, Gaotu traded at nearly $115 per share, valuing Goldman’s stake at over $3.6 billion. Based on its Monday closing price of $2.50, the same Gaotu stake is now worth less than $80 million.

 

Grazie per il tuo commento. Il tuo commento verrà pubblicato dopo essere stato esaminato.
Abbiamo riassunto questa notizia in modo che tu possa leggerla velocemente. Se sei interessato alla notizia puoi leggere il testo completo qui. Leggi di più:

 /  🏆 394. in İT

Italia Ultime Notizie, Italia Notizie