Home Top Movers TAL Education Group (TAL) stock is tumbling today: What’s Going on?

TAL Education Group (TAL) stock is tumbling today: What’s Going on?

Shares of the TAL Education Group (TAL) stock were tumbling in the current market trading session today on June 16, 2021, without any obvious reason. The TAL stock price saw a downtrend of 9.84% to drop at $26.01 a share as of this writing. The previous trading session was gloomy for TAL stock as it went down by 3.25% at closing. Let’s deep dive to explore more of it.

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What’s Happening?

There is no specific reason associated with the current bearish sentiment of TAL stock. There is no announcement by TAL stock or release of a negative earnings report to justify the falling TAL stock price. No analysts’ downgrades or shrank targeted per share price of the TAL stock has been in the recent news. The shareholders have already suffered a lot due to the fear of China’s crackdown for on-profit education companies. However, according to Goldman Sachs, the TAL stock should $53 per share price in the next year which represents a 79% increase over the year.


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Crackdown against Chinese Private Education Companies:

About two weeks ago, the State Administration for Market Regulation (SAMR) fined 15 different private education companies in which TAL education was also included. The SAMR alleged that these 15 companies were involved in false advertisement and practicing deceptive sales in order to bolster their revenues. Roughly $5.7 million penalties were totaled, as mentioned in the report.

There is a trend of after-school tutoring in China and the COVID-19 has increased the demand for remote tutoring as the strict lockdown was imposed in the whole country due to the escalation of a deadly pandemic. Considering the current situation, the Ministry of education is drafting the new regulation that would be expected to roll out in late June, as previously reported by Reuters.

Nowadays, the education sector for profit is suffering in China due to governmental restriction against it as the government is threatening many companies to ban due to false advertisement and imposed the condition that teacher should be licensed to teach the students along with some other restrictions in order to regulate the private tutoring companies. Now it is difficult for the on-profit education stocks to outperform in such a situation.

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Conclusion:

Things are not going well for the TAL Education Group as far as market sentiment is concerned. The stock is continuing the downtrend without any specific reason, but it seems that the China crackdown in the on-profit education sector is the major culprit behind this fall.

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