Strayer Shares Plunge as ‘Publicity’ Hurts Enrollment
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Strayer Education Inc. led declines among for-profit colleges, with its shares falling the most in almost 11 years, after the company said government scrutiny of education companies discouraged students from enrolling.
The Arlington, Virginia-based company, which operates 87 campuses and an online university, fell as much as 26 percent in Nasdaq Stock Market composite trading. New student enrollment for the winter term that started last week declined about 20 percent from a year earlier and may slow earnings growth, the company said in a Jan. 7 statement.