New Oriental Education & Technology's stock plummeted 5.01% during intraday trading on Monday, reflecting significant selling pressure.
The decline follows news that First Beijing Investment Limited sold 1.44 million shares of the company at HK$49.0174 per share, reducing its stake to 10.96%. Such stake reductions by major shareholders often signal diminished confidence or portfolio rebalancing, which can trigger negative market sentiment and selling activity.
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