UDMY, COUR Stocks Surge After Online Learning Rivals Announce AI-Focused Merger
Synopsis
The joint statement released by the two companies states that the implied equity value of the combined entity is approximately $2.5 billion.
Udemy Inc. (COUR) shares soared in Wednesday’s pre-market session after the company announced a merger with Coursera Inc. (UDMY) to build an AI-focused learning platform.
The joint statement released by the two companies states that the implied equity value of the combined entity is approximately $2.5 billion, based on the closing prices of the COUR and UDMY stocks on Tuesday.
“We’re at a pivotal moment in which AI is rapidly redefining the skills required for every job across every industry. Organizations and individuals around the world need a platform that is as agile as the new and emerging skills learners must master,” said Coursera CEO Greg Hart.
Coursera shares were up nearly 4% in Wednesday’s pre-market trade, while Udemy shares were up more than 16%. Retail sentiment on Stocktwits around Coursera trended in the ‘extremely bullish’ territory, while users felt ‘bullish’ about Udemy.
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