Why New Oriental Education Stock Got Crushed Today

Evan Niu, CFA, The Motley Fool
·2 min read
Why New Oriental Education Stock Got Crushed Today

Shares of New Oriental Education (NYSE: EDU) have gotten crushed today, down by as much as 10%, after the company reported fiscal second-quarter earnings. The company recently listed its shares on the Hong Kong Stock Exchange, raising nearly $1.5 billion in fresh capital. "We are pleased to see the recovery of businesses for the autumn semester after the resumption of schools and learning centers since the end of September 2020," Executive Chairman Michael Yu said in a statement.