|Bid||206.00 x 1800|
|Ask||206.18 x 900|
|Day's Range||203.57 - 206.89|
|52 Week Range||198.26 - 319.32|
|Beta (5Y Monthly)||0.80|
|PE Ratio (TTM)||24.43|
|Earnings Date||Aug. 03, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||292.21|
Fears of increased of regulation from Beijing crushed U.S.-listed Chinese stocks on Friday following a Chinese government crackdown on private educators. U.S. shares of TAL Education Group and New Oriental Education & Technology Group Inc, which provide tutoring and test preparation services in China, each dropped more than 50% after news that the government is barring tutoring for profit in core school subjects to ease financial pressures on families that have contributed to low birth rates. Heavyweight Chinese internet stocks also deepened a recent selloff as the move by China added to concerns about increased regulation of Chinese companies listed on Wall Street.
Chinese stocks were diving today, once again on fears of a regulatory crackdown by the Chinese government. This time the focus was on Chinese education stocks as a number of news outlets reported that officials may ask Chinese tutoring companies like TAL Education Group and New Oriental Education Group to become nonprofits, a move that would have obvious consequences for investors. The fallout hit Chinese stocks broadly and came as fears have been mounting over intervention from the Chinese Communist Party.
(Bloomberg) -- China is considering asking companies that offer tutoring on the school curriculum to go non-profit, according to people familiar with the matter, as part of a sweeping set of constraints that could decimate the country’s $100 billion education tech industry. Shares sank.In rules currently being mulled, the platforms will likely no longer be allowed to raise capital or go public, the people said, asking to not be identified because the information is not public. Listed firms will