The current crash in Educational stocks across the board is similar to stock market crash during recession. They all crash at the same time, same rate regardless of the earning. Most of times, they overshoot on the downside and bounce back when the actual earning release is not as bad as the market thinks. Look, what was the prices on many stocks during March, 2020 and what are they prices now? So for $好未来(TAL)$ , $高途(GOTU)$ ,$新东方(EDU)$ , what matters most down the road for the next few quarters or few years is what the revenue numbers will be ? If they don't drop as bad as market thinks because they find different revenue source, the stock prices will sky rocket.