ZME - NYSE delists Chinese education stock as broader ADR delisting fears build

Zhangmen Education (NYSE:ZME) is the latest stock to be set for delisting by NYSE Regulation, increasing worries about China-based companies on US exchanges. The delisting for Zhangmen came due to its failure to maintain a market cap of at least $15M for the 30 days. The stock had fallen over 99% from its 2021 highs as crackdowns on the sector by the Chinese government gutted the ability of online tutors to operate in the region.  That fate could also hit numerous Chinese online education stocks that have seen market caps fall by similar margins. While heavyweights like Tal Education (TAL) and New Oriental Education & Technology Group (EDU) still sport market caps north of $1B, smaller NYSE-listed players like Rise Education Cayman (REDU), 17 Education & Technology (YQ), Bright Scholar Education Holdings (BEDU), and Sunlands Technology Group (STG) could be only one adverse policy shift from falling to similar levels.

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NYSE delists Chinese education stock as broader ADR delisting fears build