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+--- Thread: Zovio = colossal failure (/Thread-Zovio-colossal-failure)
Zovio = colossal failure - bjcheung77 - 05-16-2022
I wonder what would happen if they actually get delisted from Nasdaq! Ouch, University of Arizona Global Campus was hit with the "April fool's joke" for 3 weeks due to regulations in financial aid. And things don't look that great now with their partner or service provider in this educational vertical... Once they hit rock bottom (don't know when), they should be able to bounce back up... I hope U Of A Global will continue striving forward and get past this obstacle.
Link: Zovio in danger of delisting from Nasdaq | Higher Ed Dive
RE: Zovio = colossal failure - MNomadic - 05-16-2022
(05-16-2022, 11:21 PM)bjcheung77 Wrote: I wonder what would happen if they actually get delisted from Nasdaq! Ouch, University of Arizona Global Campus was hit with the "April fool's joke" for 3 weeks due to regulations in financial aid. And things don't look that great now with their partner or service provider in this educational vertical... Once they hit rock bottom (don't know when), they should be able to bounce back up... I hope U Of A Global will continue striving forward and get past this obstacle.
Link: Zovio in danger of delisting from Nasdaq | Higher Ed Dive
Wow a new penny stock.
RE: Zovio = colossal failure - LevelUP - 05-16-2022
They could do a reverse split which would get the share price above $1 per share.
They also have to keep paying the listing fees which will start to add up for a company that has a market cap of only $25 million.
Other NASDAQ requirements, they need to have at least 1 million in earnings or have a 30 million market cap which is likely they are below that as well.
So can list on the pink sheets/otc exchange.
RE: Zovio = colossal failure - Johann - 05-17-2022
(05-16-2022, 11:38 PM)LevelUP Wrote: They could do a reverse split which would get the share price above $1 per share.
They also have to keep paying the listing fees which will start to add up for a company that has a market cap of only $25 million.
Other NASDAQ requirements, they need to have at least 1 million in earnings or have a 30 million market cap which is likely they are below that as well.
So can list on the pink sheets/otc exchange.
(1) Reverse split? If they did, how long do you think this outfit could tread water until they sank below the $1 waterline again?
(2) Sure - pink sheets were my first thought - but the article mentioned another portion of the Nasdaq market. Here's that:
"If the company is unable to raise its share price, it can apply for listing on another exchange, the Nasdaq Capital Market. It would have to meet listing requirements. Nasdaq describes the Capital Market as being for companies that seek to raise capital, whereas it says Zovio’s current home, the Global Select Market, “has the highest initial listing standards of any exchange in the world.”
My take - At some point in the not-too-far-off future, U of Arizona will end up spending millions of dollars to divest itself completely of this albatross and then heave a sigh of relief. Hopefully, the Global Campus will then be run by an entity that has more chance of success. Looks like a great concept, not well-run in this instance.
It's like a nightmare used-car deal. U. of Arizona bought somebody else's problems: Ashford U. which had already been seriously problematic, to the tune of $22.4 million in court penalties, for the seller - Zovio.
RE: Zovio = colossal failure - Alpha - 08-07-2022
UAGC terminates with Zovio
University of Arizona Global Campus terminates contract with Zovio | Higher Ed Dive
RE: Zovio = colossal failure - MNomadic - 08-07-2022
(08-07-2022, 07:11 PM)Alpha Wrote: UAGC terminates with Zovio
University of Arizona Global Campus terminates contract with Zovio | Higher Ed Dive
They're parting ways with zovio but taking the employees they need with them. Sounds like a win win for UofA
RE: Zovio = colossal failure - Johann - 08-07-2022
(08-07-2022, 07:11 PM)Alpha Wrote: UAGC terminates with ZovioGood. My prophecy didn't all come true. I like this better. UAGC got rid of the albatross - UAGC is in control, took over the employees they need - and didn't have to pay millions of dollars, as I thought they might. A deserved win for UAGC and a cautionary note to all Unis venturing into deals with OPM organizations.
University of Arizona Global Campus terminates contract with Zovio | Higher Ed Dive
I wish UAGC all the best in running this venture. I wish Zovio --- nothing. And that's likely what they'll end up with.
RE: Zovio = colossal failure - Jonathan Whatley - 08-08-2022
I simply can't see "Zovio" without thinking Zombo.com.