LOPE - Grand Canyon Education Comes Out Swinging
Most investors don't pay too much attention to for-profit education. And for good reason: the industry was rife with dirty tactics leading into the Great Recession 10 years ago.
But one company stood out above the rest: Grand Canyon Education (NASDAQ: LOPE). It started out as a Christian-affiliated, private, not-for-profit school. It only switched designations when it ran into financing troubles. Under the steady hand of CEO Brian Mueller, the school stabilized.
In 2018, the university (GCU) separated from the company (GCE), which is a unique situation, so the company could go in a potentially profitable new direction. Last month, short-selling firm Citron Research capitalized on that by putting out a report accusing the company of using its new structure to hide financial shenanigans.