Chinese education stocks are moving higher on Monday as reports claim China will allow them to resume their work.
Many Chinese education stocks took a beating earlier this year with the Chinese government placing restrictions on them. That included attempts to keep them from profiting from their work or listing on U.S. exchanges.
Now it looks like that dark period is coming to an end. Recent reports claim that China is going to issue licenses that allow these companies to start offering after-school tutoring again. Several of these companies are reportedly in talks with regulators about such licenses.
Let’s take a look at how today’s news is affecting several Chinese education stocks today!
Chinese Education Stocks on the Move
- TAL Education (NYSE:TAL) stock starts us off today with shares climbing 4.1% higher as of Monday morning. However, the stock is still down 94.2% since the start of the year.
- New Oriental Education (NYSE:EDU) shares are up next with the stock sitting 6.4% higher as of this writing. Even so, shares are still down 87.6% year-to-date.
- Meten (NASDAQ:METX) stock is one of the biggest gainers among Chinese education companies with shares rising 14.8% this morning. Unfortunately, the stock is still down 60.4% since the start of 2021.
- Gaotu Techedu (NYSE:GOTU) shares close out our list this morning with the stock jumping 7.5%. Like the others, shares are still down YTD with GOTU dropping 93.7%.
Investors looking for more hot stock market news today will want to keep reading!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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