For-profit education stocks are dropping sharply after President Obama was re-elected last night. The Obama administration has implemented various measures meant to put a lid on prices charged by companies in the sector and regulate their marketing activities. In mid-morning trading, Apollo Group (APOL) fell 7.59% to $19.59, DeVry (DV) declined 6.27% to $25.12, Career Education (CECO) slid 6.89% to $3.65, ITT Educational (ESI) tumbled 10.93% to $18.58, Grand Canyon Education (LOPE) dropped 2.09% to $23.43 and Strayer (STRA) gave back 6.49% to $56.44.
- Politics & Government
- Obama administration