New Oriental Shorts Backpedal as Shares Rise to Record: Chart

Bears have done an about-face on New Oriental Education as the Chinese education company trades near a record high after beating analysts’ quarterly revenue forecasts. About 2 percent of the U.S.-traded shares were sold short as of July 20, down from a three-year high of 4 percent two weeks earlier, data compiled by Bloomberg and Markit show. The shift comes as the company says it has generated 200,000 new enrollments.

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