Why New Oriental Education Was Pummeled in the First Half of 2021
The first six months of 2021 could not have been more unkind to New Oriental Education & Technology Group (NYSE: EDU) as the Chinese online education stock plummeted 55.9% for the period, according to data provided by S&P Global Market Intelligence, after an earnings report that failed to impress was followed by a regulatory crackdown on for-profit educators.
New Oriental's fiscal second-quarter earnings report in January underwhelmed the markets despite beating expectations and offering guidance mostly in line with forecasts.
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