Stock Alert: TAL Education Plummets 15% On Reports Of Curbs On Chinese Private Tutorial Industry

Shares of Chinese educational technology company TAL Education Group (TAL) are down 16 percent on Wednesday's trading in the backdrop of news that the Chinese Government plans to bring stringent rules to control the $120 billion private tutorial industry.

According to reports, the new rules include trial bans on vacation tutoring and advertising curbs. Tuition centers will also not be allowed to take online and offline classes on weekend during term time. All these measures are expected to hit the tutoring companies like TAL Education really hard.

TAL is currently trading at $24.01, down $4.82 or 16% on the NYSE. The stock has traded between $23.91 and $90.96 during the past 52 weeks.

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