Shares of TAL Education Group (TAL), a provider of after-school tutoring (AST) services, crashed 70.8% on Friday to close at $6 per share following the announcement of new regulations for Chinese tutoring service providers. The new regulations relate specifically to companies providing tutoring on academic subjects in China’s compulsory education system. The General Office of the CPC Central Committee and the General Office of the State Council issued numerous directives in a bid to regulate the industry. (See TAL Education stock charts on TipRanks) As per the new directives, the AST providers are to become non-profit organizations, and no new licenses will be issued for the industry.
https://www.tipranks.com/news/tal-education-crashes-on-new-tutoring-service-regulations?utm_source=advfn.com&utm_medium=referral
Tal Education (NYSE:TAL)
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