New Oriental Education & Technology Group, Inc. SponsoredNYSE
Description
⋅
China's crackdown on for-profit education companies was a disaster for traders not using a stop loss.
In the 52 Week Range EDU New Oriental Education & Technology Group Inc. went from 19.9740 to 1.9400usd.
After-school tutoring institutions must transform themselves into "nonprofit organizations".
Jim Cramer (Mad Money) on China's tech crackdown: You can't own Chinese stocks!
ARK Invest dumps Chinese stocks.
It seems dangerous to hold Chinese stocks right now.
US-listed Chinese companies have three years to comply with US accounting oversight, to comply with the rules of accounting and transparency that American public companies must follow, if not they will get delisted.
This looks like the beginning of China`s stock market crash.
I`m looking forward to read your opinion about this!
Hve you read the news that there was a call with hedge funds executives and china officials. They try to rectify the whole situation?
TopgOptions
⋅
@AskyKulch, meanwhile, these are the New Regulations for China’s Education Sector:
Companies and institutions that teach the school curriculum must go non-profit
Such institutions cannot pursue IPOs, or take foreign capital
Listed companies will be prohibited from issuing stock or raising money in capital markets to invest in school-subject tutoring institutions, or acquiring their assets via stock or cash
Foreign firms are banned from acquiring or holding shares in school curriculum tutoring institutions, or using VIEs (variable interest entities) to do so. Those already in violation need to rectify the situation
All vacation and holiday curriculum tutoring is off-limits
Online tutoring and school-curriculum teaching for kids below six years of age is forbidden
Agencies cannot teach foreign curriculum or hire foreigners outside of China to teach