New Oriental Education & Technology Group Inc (NYSE:EDU) Stock Falls 9% In a Month: But Why?

In recent times, the private education services sector in China has suffered considerably and hence, it is perhaps no surprise that the New Oriental Education & Technology Group Inc (NYSE:EDU) stock has declined by 9% over the course of the past month.

Market Stats

On Tuesday, EDU stock moved lower 3.32% at $2.04 with more than 31.52 million shares, compared to its average volume of 47.67 million shares. The stock has moved within a range of $2.0200 – 2.1400after opening the trade at $2.11.

To Hold Annual General Meeting on November 18, 2021

There has been no news about the company for the sometime and the last time the company was in the news was back on October 18. At the time , New Oriental Education announced that it was going to hold its Annual General Meeting of shareholders on November 18, 2021.

The meeting is scheduled to be held at No 6 Hai Dian Zhong Street in Beijing, China and it is going to be interesting to see if the New Oriental Education stock gets any traction in the days leading up to November 18.

However, at the same time, it should be noted that the company had already pointed out in its original announcement that the shareholders are not going to be voting on any new proposals. Instead, the shareholders meeting is going to be more about an open discussion between shareholders and the management with regards to the company’s operations.

Traders Corner

EDU stock is trading below the 20-Day and 50-Day Moving averages of $2.15 and $2.14 respectively. Moreover, the stock is trading below the 200-Day moving average of $9.08. The stock is down 86% in the past 6-month.