Why Shares of 2U Dropped Today
Shares of 2U (NASDAQ: TWOU) slumped on Monday along with the broader market. The education-focused software-as-a-service provider has been dragged up and down by a tumultuous stock market in recent days. Last Wednesday, the stock soared for no reason as the major stock indices rallied.
This time around, the stock is sinking amid a deep stock market sell-off. 2U stock was down about 7.6% at 11 a.m. EDT.
It's unclear how the novel coronavirus outbreak that's causing some of the recent stock market volatility will affect 2U. The company sells cloud-based software to universities and nonprofit colleges that enable online learning, so it could benefit if schools in the U.S. are forced to move online-only for a while as the outbreak runs its course.
Source Fool.com
