What's Going On With 2U Stock?
Portfolio Pulse from Erica Kollmann
2U, Inc. (NASDAQ:TWOU) shares are trading higher after the company filed for Chapter 11 bankruptcy protection last week. The company has reached a deal to cut its debt by 50% and secure $110 million in new capital. Despite the bankruptcy filing, the stock is rebounding on heavy volume.
July 29, 2024 | 5:13 pm
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2U, Inc. shares are experiencing high volatility after filing for Chapter 11 bankruptcy protection. The company has negotiated a deal to reduce its debt by 50% and secure $110 million in new capital. The stock is rebounding on heavy trading volume.
The stock is rebounding significantly despite the bankruptcy filing, likely due to the positive news of debt reduction and new capital. This suggests a short-term positive impact on the stock price.
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