|Bid||19.01 x 1000|
|Ask||19.02 x 800|
|Day's Range||18.59 - 19.39|
|52 Week Range||15.66 - 90.50|
|Beta (5Y Monthly)||0.91|
|PE Ratio (TTM)||9,500.00|
|Earnings Date||May 02, 2022 - May 06, 2022|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||32.23|
(Bloomberg) -- Byju’s, an India online education startup, is in discussions to acquire a US target and likely to bid for either Chegg Inc. or 2U Inc., according to people familiar with the matter. Most Read from BloombergOne-Time Richest Singapore Tycoon Has Lost 80% of His FortuneMeet the Hedge-Fund Manager Who Warned of Terra’s $60 Billion ImplosionOmicron Is Turning Out to Be a Weak VaccineElon Musk Says Twitter Must Prove Bot Claims for $44 Billion Deal to ProceedU.S. Stocks Extend Losses in
After initially declining along with the rest of the market this morning, shares of Chegg (NYSE: CHGG) and 2U (NASDAQ: TWOU) both shot higher this afternoon. As of 3:30 p.m. ET, Chegg stock was up 3.5%, and 2U was up 6.2%. It's a small reprieve for shareholders as the two online education companies are down a respective 85% and 91% from their all-time highs reached in early 2021.
Growth stocks have taken a beating after the Federal Reserve announced in late 2021 that it would start raising interest rates. Rising rates are bad for growth stocks because future cash flows are discounted at higher rates. For instance, Roblox (NYSE: RBLX) and Chegg (NYSE: CHGG) are two solid companies down 75% and 84%, respectively, off their highs.