LAIX (NYSE:LAIX) stock is on the rise Friday despite a lack of news concerning the Chinese artificial intelligence (AI) company.
To go along with the increasing price for LAIX stock comes heavy trading of its those shares. This has resulted in more than 66 million shares of the stock trading as of this writing. To put that in perspective, the company’s daily average trading volume is only about 332,000 shares.
So why exactly are shares of LAIX stock heady higher today? It looks like the increase in the stock comes as retail investors on social media look to boost it higher. This has been pushing many stocks up lately as these investors go after companies targeted by short-sellers.
With the increasing interest in LAIX stock investors likely want to know more about the company. That’s where our quick breakdown below can help out.
- LAIX is a Chinese AI company that creates products and services to popularize English learning.
- The company uses its Liulishuo platform to offer these services.
- One of its goals is to keep the English learning service cost-effective, which allows more people to make use of it.
- All of this is possible through its AI teacher and its various capabilities.
- That includes the ability to “hear, understand, interact with and evaluate the performance of our users.”
- LAIX was founded in 2013 and joined the public market in September 2018 when it listed shares of its stock on the New York Stock Exchange.
LAIX stock was up 161.3% as of Friday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.