The drop in Chinese private-education stocks continued this week, as shares of New Oriental Education & Technology (NYSE: EDU) , Gaotu Techedu (NYSE: GOTU) , and 17 Education & Technology fell 17.4%, 14%, and 10.5%, respectively, while TAL Education (NYSE: TAL) was down 8.8%. The crackdown by Beijing on online educators continues to take its toll.
China has launched a widespread regulatory offensive against a swath of industries, underscoring the risks and dangers of being a capitalist in a communist country, as well as investing in them.
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For further details see:
Why These 4 Chinese Online Educators Fell Hard This Week