Given his strategy, I suspect that Jeremy Raper is not usually a long term holder. During the next couple of weeks, we will probably know if he continues to sell.
For me, Edu continues to be a scarce opportunity. I do not have in mind another stock, where the existing business is enough to justify today's valuation.
The only way I can justify this situation : the market considers that they will not be profitable, once the existing students are leaving. Of course, that's one possibility but it looks to me quite an extreme one. According to my estimates, Ikon needs around 870 students to reach the breakeven point, while they have now between 450 and 480 domestic students. So they can probably reach this BE by a combination of more domestic students and a certain level of international students.
EDU Price at posting:
37.5¢ Sentiment: Buy Disclosure: Held
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