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Shares of ed-tech company 2U plummet 57%, fall below $1 for much of day - TL;DR CNBC

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: technologybreaking news: technologybusiness newsearnings2u inc

Source: https://www.cnbc.com/2023/11/10/shares-of-ed-tech-company-2u-plummet-almost-60percent-falling-below-1.html


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