The Higher Education Inquirer has added three companies to its College Meltdown watchlist: Ambow Education (AMBO), SoFi (SOFI), and Adtalem (ATGE).
Leading the way is National American University Holdings (NAUH), which is down to less than $50,000 in cash. Ambow Education (AMBO) and Aspen Group (ASPU) are near penny stock territory and Barnes and Noble Education (BNED) and SoFi (SOFI) are also in deep financial trouble.
Declining share price is not the only factor to make the College Meltdown list. Government contractor Maximus (MMS), for example, is on the list for its predatory behavior with student debtors and its own workers, as well as its questionable contracts with the US Department of Education.
Adtalem makes the list for continuing to put lots of working-class folks (particularly women and people of color) into a lifetime of student loan debt.
2U is identified for its fleecing of its clients (universities), end customers (students) and shareholders. In its last annual report, the company told shareholders that the number one risk was that it may never make a profit.
2U (TWOU) Shares have dropped 70 percent over the last year (Source: Seeking Alpha)
Shares of student loan refinance company SoFi (SOFI) are down 70 percent over the last year
(Source: Seeking Alpha)
Barnes and Noble Education (BNED) shares have dropped 66 percent over the last 6 months.
(Source: Seeking Alpha)
Aspen Group (ASPU) shares have declined 82 percent over the last year.
(Source: Seeking Alpha)
Related link: College Meltdown 2.0
Do you think 2024 will be the year Ambow finally collapses ?
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Not sure yet.
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