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Why Chinese Education Stocks Bounced Back Tuesday

Why Chinese Education Stocks Bounced Back Tuesday

Bad news was good news for Chinese education stocks Tuesday morning as shares of China Online Education Group (NYSE: COE) climbed 9.1% through 10:40 a.m. EDT, TAL Education Group (NYSE: TAL) gained 10.3%, and New Oriental Education (NYSE: EDU) rose 14.8%. As TheFly.com reported today, investment bank Goldman Sachs cut its price target on TAL Education and downgraded New Oriental Education stock, but the stock prices rose anyway.