Livestreaming E-Commerce Revives Fortunes of Tutoring Giant New Oriental
Shares of Chinese private tutoring giant New Oriental have rebounded strongly on a surge in users of its new livestreaming e-commerce unit, after a regulatory crackdown vaporized most of its market capitalization last year.
New Oriental Education and Technology Group Inc.’s New York stock has risen 22.4% over the past five trading days, even as the NYSE Composite Index dropped 8.3%. Its Hong Kong-listed online education subsidiary, Koolearn Technology Holding Ltd., jumped 140% from Friday to Tuesday.
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