New Oriental Education & Technology Group Inc. is one of the stocks attracting the attention of day traders. It has become the most recognizable brand in Chinese private education with a 3 billion capitalization. Since last week, the stock price has sharply deteriorated from $2.2150 to $2.0050, resulting in a 9% loss. By now, the value is steadily recovering by more than 21% to $2.4700 in the pre-market trading sessions, giving the volume of 20,029,018 shares. Despite that, the company did not make any specific announcements in the coming days. Relating to the stock’s 52-week performance, its high was $19.9740, and the low was $1,6800.
However, on October 18, the company proclaimed that on November 18 will hold its annual general meeting of shareholders at 5:00 p.m. (local time). The company has had almost 54,200 teachers in 108 locations since May 31, 2021, with a network of 122 schools, 1,669 learning centers, 11 bookshops, with access to a countrywide network of online and physical bookstores through 181 third-party distributors. By the way, the EDU was founded in 1993, and until today it has had about 67.9 million student enrollments, including around 12.5 a million enrollments in the fiscal year 2021. Is it a good pick?