World’s Biggest Stock Losers Are Chinese Tutors Amid Crackdown

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(Bloomberg) -- Shares of China’s once high-flying private education companies are the world’s worst performers this year amid a government crackdown aimed at easing student workloads and costs. American depository receipts of Gaotu Techedu Inc. have plunged 73% so far in 2021, making them the biggest loser on the Bloomberg World Large & Mid Cap Price Return Index. Not far behind at No. 4 with a loss of 67% is TAL Education Group, which has been seen as a bellwether for the $100 billion industry, while New Oriental Education & Technology Group Inc. is down 56% at No. 10.

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