2011-03-10/kloc-0: 26 Source: China Net Author: Shen
Global World Education Technology Co., Ltd., a subsidiary of Global IELTS, a foreign language training institution, suffered a sharp drop in its share price in the US stock market yesterday. At the close, its share price fell by more than 25%. According to this calculation, the market value of the world evaporated by nearly 50 million dollars in one day.
Universal IELTS is one of the largest chain foreign language training institutions in China. In 2006, Global World Education Technology Co., Ltd. was invested and established by Softbank Safran Fund. The company was listed and traded on NASDAQ 65438 last year1October 8, with an issue price of $65438 +00.5 yuan. Subsequently, the global world share price has been fluctuating and falling. Yesterday, it suddenly plunged 25% to close at $5.78, and its share price hit a new low, with its market value plummeting by $49.67 million.
Yesterday, Zhang Yongqi, president of Universal Picture, told reporters that he was also anxious to see the stock price plummet, but he "didn't know much about the thinking of American investors". But he believes that these investors, especially some short-term investors, are "too sensitive". The decline in global profit margins may also be a reason for yesterday's plunge. The company's financial report for the fourth quarter and the whole year of last year just released on March 7 shows that the net profit for this quarter decreased by 9.8% year-on-year due to the increase in project expenditures such as labor costs.
Recently, the share prices of China educational enterprises listed in the United States are generally depressed, and Xuesisi, which was also listed last year, fell below the issue price last week. Feng Po, an analyst with China Investment Group, said that since the IPO climax of China enterprises in the United States last year, investors have become more and more calm after the upsurge. (Reporter Shen Yuqing)
Because of the chaotic operation, the profit dropped and the stock price plummeted. At this rate, Global IELTS will die sooner or later!
The one upstairs is Changzhou Global IELTS!