Adtalem Global Education Inc.
|Adtalem Global Education Inc.
On January 30, 2024, Safkhet Capital Research published a report alleging, among other things, that Adtalem’s business model is “fast and loose admissions made possible by aggressive and sometimes deceptive tactics,” specifying that Adtalem students are “funneled into a system” where they may be “[s]trung along for years, with no clear path towards graduation,” used as a “liquidity tap, but discarded before they can be a drag on the quality metrics used to attract prospective students,” or “denied an education sufficient for career success or even eventual full loan repayment.” The report further alleges that Adtalem is “teetering towards a reckoning as its nearsighted business decisions clash with historically high interest rates, looming regulations, and a generation of students now empowered to fight back.”
On this news, Adtalem’s stock price fell $10.95, or 18.6%, to close at $47.68 per share on January 30, 2024, thereby injuring investors.
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