Shares of 2U (NASDAQ: TWOU) spiked more than 14% on Friday morning following a report that the online education company has hired advisers to explore its options. The stock gave much of that gain back as the day went on, but it appears the company might be following through on a push by a hedge fund to find a buyer.
2U jumped on Friday after Bloomberg reported that the company has been working with advisers to explore ways to improve performance, including a possible sale. The review is ongoing, according to the reports, and the company has not yet determined whether it will stay independent or do a deal.
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Source Fool.com