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2U, Inc. (NASDAQ:TWOU) shares are trading higher Monday. The volatility comes after the company filed for Chapter 11 bankruptcy protection last week.
The Details:
2U shares crashed last week after the company announced it had filed for Chapter 11 bankruptcy protection amid financial challenges and a heavily leveraged balance sheet. The company announced a deal with its lenders and noteholders to cut its debt load by 50% to $459 million, extend the maturity of its loans and provide $110 million in new capital.
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Needham analyst Ryan MacDonald reiterated a Hold rating on 2U Friday. The stock is rebounding on heavy volume Monday with more than 58 million shares already traded, according to data from Benzinga Pro.
Whether to sell or hold a stock largely depends on an investor's strategy and risk tolerance. Swing traders may sell an outperforming stock to lock in a capital gain, while long-term investors might ride out the turbulence in anticipation of further share price growth.
Similarly, traders willing to minimize losses may sell a stock that falls a certain percentage, while long-term investors may see this as an opportunity to buy more shares at a discounted price.
For analysis tools, charting data and access to exclusive stock news, check out Benzinga PRO. Try it for free.
TWOU Price Action: According to Benzinga Pro, 2U shares are up 111% at $2.64 at the time of publication Monday.
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