Why did the IDP Education (ASX:IEL) rise by 20% in one month?

The IDP Education Ltd (ASX: IEL) share price has been a top performer on the ASX this month, rising up 20%. At the time of writing, the IDP Education share price is trading down 1.58% at $24.88, amid a broader fall in the ASX index. Let’s take a look at why the company has done so well in the past month.

What’s driving the IDP Education share price?

The English language education company has benefited from the news that the COVID-19 vaccine might soon be available to the general public. The company’s main revenue source mostly comes from in-person English language testing, and the vaccine news has raised hopes that international students might soon be back in Australia.

IDP Education qualified for JobKeeper, and in the year…