Stride Stock Crashes on Weak Guidance After Earnings Beat – What’s Next for LRN?
Stride, Inc. shares plunged over 34% in after-hours trading on October 28, wiping out about $2 billion in market value after the company issued weaker-than-expected guidance. This came despite first-quarter results that beat estimates, with revenue up 12.7% to $620.9 million and enrollments rising 11.3%. CEO James Rhyu cited caution on future growth due to moderating trends and possible regulatory risks.