Shares of online education company 2U plummeted about 60% Friday, falling below $1, after a problematic forecast and indications that some universities are terminating their contracts. 2U, which helps companies offer digital programs to students, posted a net loss of $47.4 million for the third quarter. Its adjusted loss of 15 cents per share was wider than the 13 cent loss analysts were expecting, according to LSEG, formerly known as Refinitiv. Some companies undergo a reverse stock split to boost the share price above $1, though that does nothing to fix their financial problems. Office-sharing company WeWork filed for bankruptcy this week, after declaring a 1-for-40 reverse split in August that was meant to try and retain its NYSE listing.

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Persons: Christopher Paucek, they've, Paucek, Cantor Fitzgerald, Cantor, Bird, WeWork Organizations: University of Southern, USC, Nasdaq, New York Stock Exchange, NYSE Locations: University of Southern California