2U's Stock Plummets 57% and Remains Below $1, Q3 Earnings Analysis
Originally Published 2 years ago — by CNBC
Shares of online education company 2U plummeted 57% after a disappointing forecast and reports of universities terminating their contracts. The company posted a net loss of $47.4 million for Q3 and lowered its revenue guidance for the full year. 2U's reliance on one-time payments and its deteriorating core degree business raised concerns among analysts. The company also laid off 12% of its staff and has a significant debt load. Shares closed below $1, risking potential delisting from the Nasdaq.