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Spruce Point Shorts 2U

Activist short seller Spruce Point Capital announced a short position in 2U, Inc. today. "Spruce Point has spent months conducting a critical forensic and fundamental analysis of the Company. Based on our analysis, we provide compelling evidence that Its one size fits all model is being disrupted by new fee-for-service competitors with lower take-rates (i.e. revenue share %) that will make it nearly impossible for 2U to meet its steady-state long-term projections, resulting in significant disappointment of Wall Street's aggressive long-term projections" the firm said in its release. Spruce Point is calling a $47-$65 range price target for the stock, which represents approximately 30%-50% downside...