Aspen Group, Inc. Set to Join Russell 2000® Index and Russell® 3000 Index
Rhea-AI Summary
Aspen Group, Inc. (Nasdaq: ASPU) will join the Russell 2000® and Russell 3000® Indexes after the annual reconstitution effective June 29, 2020. This inclusion signifies a substantial valuation increase due to strong growth and improved financial performance over the past year. Aspen Group aims to enhance visibility among institutional investors while focusing on expanding its BSN pre-licensure campus degree program and the MSN-FNP degree program. The company believes this strategic investment will support long-term financial performance.
Positive
- Inclusion in the Russell 2000 and Russell 3000 Indexes, indicating substantial valuation increase.
- Strong growth and improved financial performance over the past year.
Negative
- Potential risks include student attrition and competitive pressures from non-profit universities offering online education.
- Economic factors such as the COVID-19 pandemic may impact financial performance.
News Market Reaction – ASPU
In the trading session that priced this news, ASPU declined 1.44%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
NEW YORK, June 10, 2020 (GLOBE NEWSWIRE) -- Aspen Group, Inc. (“AGI”) (Nasdaq: ASPU), an education technology holding company, today announced the Company is set to join the small cap Russell 2000® Index and the broad-market Russell 3000® Index at the conclusion of the annual reconstitution of the Russell stock indexes, effective after the U.S. stock market opens June 29, 2020.
“Inclusion in the Russell Indexes reflects Aspen Group’s substantial valuation increase over the past year, which is the result of the Company delivering strong growth and improving financial performance,” said Chairman & CEO, Michael Mathews. “The move from the Russell Microcap into the Russell 2000 and 3000 will further increase awareness of the Company with institutional investors and all our stakeholders. Aspen Group is committed to delivering long-term financial performance by focusing the majority of our investments on the roll-out of a nationwide BSN pre-licensure campus degree program and continued growth of our USU MSN-FNP degree program.”
About Aspen Group, Inc.:
Aspen Group, Inc. is an education technology holding company that leverages its infrastructure and expertise to allow its two universities, Aspen University and United States University, to deliver on the vision of making college affordable again. For more information, visit www.aspu.com.
Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including delivering long-term financial performance and its focus on the two mentioned programs. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include the continued demand of nursing students for the new programs, student attrition, national and local economic factors including the substantial impact of the COVID-19 pandemic on the economy, the competitive impact from the trend of major non-profit universities offering online education, and any unanticipated audit adjustments. Other risks are included in our filings with the SEC including our Form 10-K for the year ended April 30, 2019, Form 10-Q for the three and nine months ended January 31, 2020 and prospectus supplement dated January 17, 2020. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Investor Relations Contact:
Kimberly Rogers
Hayden IR
(385) 831-7337
Kim@HaydenIR.com
ircontact@aspen.edu