The New Oriental Education & Technology Group (NYSE:EDU) stock has been in the middle of a slump over the course of the past month and has slumped by 45% during that period.
The slump continued on Monday as well as the stock declined by 18%. Yesterday, the stock went on a downward spiral after Chinese President Xi Jinping stated that there should be stronger regulations on tutoring and after-school education companies.
New Oriental Education, which is based out of Beijing, claims to be the biggest private education services provider in the country and it was no surprise that its American Depository Shares declined following the announcement from Jinping. The Chinese President called for reforms in the country’s education system. On the other hand, the Chinese media reported that the authorities are now considering the possibility of cracking down on after-school tutoring services. These services provide tutoring to students in kindergarten to those in pre-college in China.
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Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.