Virtual Education Stocks Soaring as Students Head Back to School

Months into the current global health crisis, the pandemic is still forcing millions into virtual environments for work, for school, and even for play. Many of us have shifted to video chats, conferences, health visits, and classrooms to limit exposure to the virus. In fact, in schools across the country, students are being met with virtual field collaboration exercises with remote classrooms, as noted by Value Market Research. We're seeing it in grade schools, and in colleges, like Temple University, where many are demanding that the school move to all-virtual classes this semester.

"Leaders of the Temple Association of University Professionals (TAUP) said roughly 92% of the union members who participated in the recent vote agree with their stance, which argues the dangers of bringing any faculty to campus far outweigh any benefits. About 50% of the union's 2,600 members participated in the vote," according to the Philadelphia Business Journal.

Schools such as Michigan Stat and Ithaca Colleges scrapped plans to reopen with the virus, too. Harvard University is holding online courses this semester, as will the University of North Carolina at Chapel Hill. With higher demand for virtual classrooms, some of the top companies to keep an eye on include NexTech AR Solutions (OTCQB:NEXCF)(CSE: NTAR), 2U Inc. (NASDAQ:TWOU), New Oriental Education & Technology Group Inc. (NYSE:EDU), Chegg Inc. (NYSE:CHGG), and Perdoceo Education Corporation (NASDAQ:PRDO).

NexTech AR Solutions (OTCQB: NEXCF)(CSE: NTAR) BREAKING NEWS: NexTech AR Solutions, an emerging leader in augmented reality for eCommerce, AR learning applications, AR-enhanced video conferencing and virtual events is pleased to announce that Carnegie Mellon University has chosen NexTech's InfernoAR platform for a virtual series beginning next month.

Carnegie Mellon, a globally recognized leader in higher education, will host its third-annual [email protected] Conference beginning on Thursday, Sept. 10, 2020. The virtual conference series will continue throughout the month and into October, featuring conversations and panel discussions about the COVID-19 pandemic's long-term global effects on four foundational elements of society: health and healthcare, education, the economy, and sustainability. A university-wide effort supported by all seven of CMU's colleges, this timely conference gathers thought leaders of disparate disciplines and perspectives from within Carnegie Mellon and beyond to explore the impact of COVID-19 on the future of business, technology, and society.

Evan Gappelberg, CEO of NexTech comments, "We are thrilled to be working with such an esteemed university as Carnegie Mellon and are looking forward to expanding on this initial pilot." He continues, "COVID-19 has created a huge challenge for learning institutions globally especially with labs where student and subject matter interaction is so critical to learning. Our InfernoAR platform is perfectly suited to solve this challenge by offering not only video learning but augmented reality for 3D volumetric object interactions."

Other related developments from around the markets include:

2U Inc. (NASDAQ:TWOU), a global leader in education technology. announced the results of a survey exploring how COVID-19 is impacting the decision-making of prospective students considering entering graduate and undergraduate programs. The data show that, irrespective of discipline, prospective students are more likely to consider online degrees. The survey of 1,754 prospective students, conducted from June 30 through July 22, 2020, underscores that COVID-19 is driving a paradigm shift in online education. Prior to COVID-19, only 16% of students across U.S. undergraduate and graduate programs were enrolled in exclusively distance-learning degrees, according to the latest federal data on distance education. Data from 2U's survey show that the pandemic will dramatically impact the share of undergraduate and graduate students considering enrolling in intentionally-built online programs as perceptions around the traditional campus experience evolve. Key survey findings include: 73% of respondents said the COVID-19 pandemic has made them much more likely (52%) or somewhat more likely (21%) to consider online programs, and 20% of respondents said that, absent COVID-19, they would not have considered an online program.

New Oriental Education & Technology Group Inc. (NYSE:EDU), the largest provider of private educational services in China, announced its unaudited financial results for the fourth fiscal quarter ended May 31, 2020. Michael Yu, New Oriental's Executive Chairman, commented, "As we guided in the previous quarter, the outbreak of COVID-19 pandemics around the globe starting from March posed continuing pressure on our key business lines. We saw challenges on acquiring new customers during the pandemics, and the enrollment for summer courses has also been delayed. For the fourth quarter of fiscal year, net revenue was down 5.3%, or 1% if measured in Renminbi. We see a mix of results amongst business lines. Our U-Can middle and high school all-subjects after-school tutoring business grew by approximately 1%, or 5% if measured in Renminbi. Furthermore, our POP Kids program achieved a growth of approximately 10%, or 14% if measured in Renminbi. But our overseas related businesses, including test preparation and consulting business, faced the most difficult challenges, due to cancellation of overseas exams, suspension of overseas schools and restrictions on travels. The overseas test preparation business declined by approximately 52%, or 50% if measured in Renminbi. Overseas study consulting business grew by approximately 6%, or 11% if measured in Renminbi."

Chegg Inc. (NYSE:CHGG), a Smarter Way to Student reported financial results for the three months ended June 30, 2020. "Chegg was built with a belief that learning would move increasingly online and we have always bet on that inevitability," said Dan Rosensweig, CEO of Chegg Inc., "The COVID-19 pandemic has accelerated that shift and it is now clear that learning tools and academic support must be available online, affordable, on-demand, tailored to the individual learner, and geared towards the skills needed in the modern workforce."

Perdoceo Education Corporation (NASDAQ:PRDO) reported operating and financial results for the quarter and year to date ended June 30, 2020. "The health and well-being of our students, employees and communities continue to be our priority and I am extremely proud of our faculty and employees for their dedication and commitment towards educating, serving and supporting our students during these challenging times," said Todd Nelson, President and Chief Executive Officer. "We are further optimizing our technology, improving our processes and providing the necessary tools and resources to our employees so they can continue to effectively and efficiently serve students even while working remotely. Although the pandemic has not had a material impact on our operating results to date, we continue to monitor the situation. Our balance sheet continues to strengthen, and we are strategically investing in initiatives that further enhance our students' experiences, retention and academic outcomes while executing against our strategy of sustainable and responsible growth."

Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement between Winning Media and NexTech AR Solutions, Winning Media has been paid three thousand dollars for advertising and marketing services for NexTech AR Solutions. We own ZERO shares of NexTech AR Solutions. Please click here for full disclaimer.

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