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Why New Oriental Education And Technology Group Shares Are Diving Today

New Oriental Education & Tech Grp (NYSE: EDU) shares are trading lower by 7.25% to $22.08 during Monday's trading session. Shares of several Chinese companies at large are trading lower amid a resurgence in COVID cases which has caused the closure of Macau casinos.
byHenry Khederian
July 11, 2022
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New Oriental Education & Tech Grp (NYSE:EDU) shares are trading lower by 7.25% to $22.08 during Monday’s trading session. Shares of several Chinese companies at large are trading lower amid a resurgence in COVID cases which has caused the closure of Macau casinos.

Shanghai health officials said on Sunday said the city reported its first case from a new Omicron subvariant, triggering new rounds of mass testing and targeted lockdowns.

Meanwhile, all commercial and industrial businesses in Macau will be shut for at least a week from Monday as the authorities of China’s special administrative region race to curb the surge of COVID-19 infections in the world’s biggest gambling hub, Reuters reported… Read More

According to data from Benzinga Pro, New Oriental Education And Technology Group has a 52-week high of $71.20 and a 52-week low of $8.40.

 
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