- Rumor today that Icahn will reveal a substantial stake in TWTR. No reaction in shares
- Rumor Bill Ackman will announce a short position in the company has Apollo Education (APOL) quickly off 6.5% in late-morning action.
More on APOL. In the 80's and 90's online education was all the rage and names like APOL were a momentum stock, ramping with hopes of future growth. Then the bloom began to fade as the market came to accept high drop out rates and defaulted student loans. They obviously still persist today. I have no idea if Ackman will unveil a short position and if so, just what his thesis will be BUT from a chartist point of view, it would seem every time the months upper Bollinger Band was pierced, a sell off ensued. While they repurchased shares 2002-2011, there's been no buybacks since. They issue no dividends and in this (slow growth) environment, that makes it even less appealing for investors. If they're not growing, investing in their own company nor returning