Why New Oriental Education Stock Caught Fire Today
Shares of New Oriental Education (NYSE: EDU) traded sharply higher today, gaining as much as 13%. As of 3:13 p.m. EDT, the stock was up 10.2%.
The private education stock got a boost from China's decision to back skills-based education and push vocational training.
In a press release that dropped late yesterday, the Chinese government laid out a strategy to promote vocational education among its population. Specifically, regulators are dictating that college-level vocational education classes will represent 10% of undergraduate enrollment by 2025. The government also said that by 2035, its vocational education system "will be among the best in the world."
Source Fool.com