Meten Holding Group Ltd (NASDAQ:METX) Stock Suddenly Gains Momentum

Meten Holding Group Ltd (NASDAQ:METX), which is one of the biggest English language training companies in the People’s Republic of China, has seen its stock come into sharp focus among investors in recent days.

The Meten Holding stock has managed to clock gains of as much as 8% during the course of the past week. While the gains may be eye catching it is also necessary to note that there has been no news about the company in recent days. In fact, one would need to go back to the first week of September to come across any news about Meten.

Back on September 7 the company announced that it had been successful in closing an underwritten public offering that managed to raise the gross proceeds of as much as $60 million. Commissions, underwriting discounts and other offering expenses were going to be deducted from the proceeds.

In the offering, as many as 22,500,000 ordinary shares in Meten were offered for $0.30 each and in addition t that 177500000 pre-funded warrants had also been offered. While it was an important development, it is unlikely that it had an effect on the rally in the Meten stock in the past week.