Earlier on this week the Tarena International (NASDAQ:TEDU) stock had been one of the major movers in the market and had gone up by as much as 40%. However, on Wednesday, the tide changed for the stock somewhat as it suffered from a selloff and declined by 8.50%.
Considering the price action in the stock this week, it might be a good time for investors to take a closer look at the Tarena stock. The company is involved in K-12 education services and educational services for professional adults in China. That being said, it is necessary for investors to keep in mind that there has been no news about the company in recent days that could have triggered such moves.
The last time any when any news emerged about the company was back in April this year. At the time the company announced that it signed an agreement with regards to a merger with Kidedu Holdings Limited and its subsidiary company Kidarena Merger. It was a major development for the company and more importantly, in July, the company also got the approval from the antitrust authorities with regards to the merger. It remains to be seen if the stock can mount a recovery today.