Why New Oriental Stock Plunged Today

Joe Tenebruso, The Motley Fool

13 May 2021 at 7:22 pm·1-min read

Shares of New Oriental Education & Technology Group (NYSE: EDU) fell 14.4% Thursday, following reports of a government crackdown on tutoring companies. China is planning to curtail the expansion of its $120 billion private tutoring industry, according to Reuters, in an attempt to reduce the stress of school-age children and their parents. The Ministry of Education of the People's Republic of China is said to be preparing rules for K-12 tutoring that could be released by the end of June.

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