Why New Oriental Education Stock Plummeted 74% Last Month
Shares of New Oriental Education & Technology Group (NYSE: EDU), the largest provider of private educational services in China, plunged by 73.5% in July, according to data provided by S&P Global Market Intelligence, after the Chinese government implemented new rules restricting private tutoring in the country.
The first massive share price drop came on July 23, when New Oriental Education issued a press release addressing China's potential ban on certain types of private tutoring.
Image source: Getty Images.
Source Fool.com