Shares of ed-tech company 2U plummet 57%, fall below $1 for much of day
Publishing timestamp: 2023-11-10 17:50:17
Summary
Online education company 2U experienced a significant drop in its stock price after reporting a wider-than-expected net loss for the third quarter and lowering its revenue guidance for the year. The company also faced concerns about universities terminating their contracts. Analysts expressed concerns about the company's reliance on one-time payments and its deteriorating core degree business. 2U's stock price fell below $1, raising the possibility of delisting from the Nasdaq.
Sentiment: NEGATIVE
Tickers: TWOU,
Keywords: technology, breaking news: technology, business news, earnings, 2u inc,