Here's how ed-tech company 2U spiraled from $5 billion to 'going concern'
Publishing timestamp: 2024-02-15 08:30:01
Summary
2U, an online education company, missed on earnings, revenue, and guidance, leading to a significant drop in its stock price. The company is facing financial difficulties and has doubts about its ability to continue as a "going concern." 2U's stock price has been trading below $1, and analysts have discontinued coverage. The company's model has not proven profitable, and it has accumulated a significant deficit. Despite attempts to diversify and make acquisitions, 2U's sales growth has declined, and it has faced multiple rounds of layoffs. The company is now in crisis mode and is working to cut expenses and negotiate with lenders to ensure its financial resilience.
Sentiment: NEGATIVE
Tickers: TWOU,
Keywords: 2u inc, breaking news: technology, earnings, enterprise, business, technology, business news,