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Why Chinese Education Stocks Bounced Higher Today
As of 3:10 p.m. ET Wednesday, shares of hard-hit Chinese education stocks New Oriental Education (NYSE: EDU), Gaotu Techedu (NYSE: GOTU), and TAL Education (NYSE: TAL) are soaring — up 8.3%, 12.2%, and 13.7%, respectively. Ever since the Chinese government announced its crackdown on the for-profit education industry this past summer, New Oriental, Gaotu, and TAL, too, have been in the dumps.
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