Visionary Education stock jumps 26%, but still trading 67% below IPO price

Jun. 15, 2022 2:22 PM ETVEDUBy: Val Kennedy, SA News Editor

Female hand writes the acronym IPO on the blackboard

Yevhenii Orlov/iStock via Getty Images

Visionary Education Technology (VEDU) shares jumped 26% in early afternoon trading Wednesday, but the stock is still trading 67% below its initial public offering price.

Shares of the Canadian educational services company opened at $1.07, reaching a high of $1.68 in late morning trading. The stock recently changed hands at $1.33, up 26%, at approximately 1:50 p.m.

The stock has been volatile since it made its market debut on May 17, closing 525% higher than its offering price of $4 per share. The company offered 4.3M shares, raising around $17M.

Shares plunged the following session and have been trading below their IPO price since May 20.

Visionary Education (VEDU) offers secondary school diplomas, vocational certificates, along with associate’s, bachelor’s and master’s degrees. Classes are taught online and at traditional campuses in Canada. The company provides services to both Canadian and international students.

For a more in-depth look at Visionary Education, check out SA contributor Donovan Jones’s “Visionary Education Technology Aims for $23M US IPO”.

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