Why Udemy Stock Crumbled by Almost 12% in April
Many American students enjoy a break from their studies during Spring Break in April. Investors, it seems, decided to take a hiatus from Udemy (NASDAQ: UDMY) then, too, as they traded out of the stock to leave it with an almost 12% loss in price over the month. Let's explore the reasons why, and whether the decline leaves the education company attractively priced.Udemy didn't exactly pull into April on a high note. In mid-March, the company somewhat unexpectedly replaced its CEO Greg Brown with Hugo Sarrazin, a tech executive who did a 26-year stint at consultancy McKinsey & Company. Sudden transitions at the top have a way of unnerving shareholders, so sentiment was already a bit wobbly when April Fool's Day rolled around. Image source: Getty Images.Continue reading
Many American students enjoy a break from their studies during Spring Break in April. Investors, it seems, decided to take a hiatus from Udemy (NASDAQ: UDMY) then, too, as they traded out of the stock to leave it with an almost 12% loss in price over the month. Let's explore the reasons why, and whether the decline leaves the education company attractively priced.
Udemy didn't exactly pull into April on a high note. In mid-March, the company somewhat unexpectedly replaced its CEO Greg Brown with Hugo Sarrazin, a tech executive who did a 26-year stint at consultancy McKinsey & Company. Sudden transitions at the top have a way of unnerving shareholders, so sentiment was already a bit wobbly when April Fool's Day rolled around.
Image source: Getty Images.
