Apollo Education Group Inc (NASDAQ: APOL)
Apollo Education Group was off to a relatively normal day in the market today. When the opening bell rang, the stock was trading slightly in the green. From there, it saw its fair share of ups and downs, but somehow maintained gains and stayed in the green all morning. Nonetheless, minutes ago, the stock was halted out of the blue with news pending. Below, we’ll talk about what we’re seeing from APOL, why, and what we’ll be watching for ahead.
What We’re Seeing From APOL
As mentioned above, after a relatively normal morning, Apollo Education Group has halted. APOL was halted at 10:47 at $10.00 per share after a gain of $0.01 per share (0.05%) thus far today.
Why The Stock Is Halted
As soon as our partners at Trade Ideas informed us that APOL was halted, the CNA Finance team started digging to see what was causing the halt. At the moment, the official reason is “news pending.” However, we did find a rumor.
The rumor suggests that the company is in the process of buying itself. However, this rumor is unconfirmed at the moment. Nonetheless, there is one thing we do know. At the end of the day, Apollo Education Group has been halted, and that means that something big is likely happening.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping an incredibly close eye on APOL. In particular, we’re interested in learning why the stock was halted. If the company is taking itself private, it could mean that investors will see a strong return on investment. We’ll keep a close eye on the news and bring it to you as it breaks.
Update: APOL announced a merger completion. Apollo Education group shareholders will receive $10 per share for both Class A and Class B shares. In a statement, Greg Cappelli, CEO at APOL, had the following to offer:
“This transaction marks a significant milestone in our company’s history, and will allow us to accelerate our efforts at University of Phoenix, Western International University, College for Financial Planning and Apollo Global to improve outcomes for all of our students in the U.S. and around the world… We look forward to completing the transformation plan at University of Phoenix and driving the principles of operating excellence throughout the organization.”
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