Stock Track | New Oriental Shares Tumble on Departure of Key Livestreamer from Subsidiary

Stock Track07-25

Shares of New Oriental Education & Technology Group Inc. (EDU) plunged as much as 8.59% in pre-market trading on Monday, following the announcement of the departure of a prominent livestreamer from its subsidiary company, East Buy Holding Limited.

East Buy, a livestreaming e-commerce platform owned by New Oriental, revealed that celebrity livestreamer Mr. Dong Yuhui has amicably parted ways with the company's affiliated entity, Time with Yuhui, to pursue personal interests and other commitments. The news sent New Oriental's stock tumbling, with shares slumping over 4% in pre-market trading.

While the specific reasons behind Mr. Dong's departure were not disclosed, the move has raised concerns among investors about the potential impact on East Buy's livestreaming operations and New Oriental's overall business strategy. As a key figure in the company's livestreaming efforts, Mr. Dong's exit could potentially disrupt East Buy's ability to attract and retain viewers, potentially affecting its revenue streams.

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