Throughout October, I flagged Career Education Corp. (NASDAQ:CECO) due to its strong cash balance and recent deal, which saw the company sell its European University assets for more than the company's total market capitalization.
Career Education sells its European assets
Career Education Corp. (NASDAQ:CECO) announced that it was selling its European assets for $276.5 million after expenses, which at the time was more than the company's market cap. However, since that announcement the company reported fiscal third quarter results that failed to impress the market. As a result the stock is now down 23% from the highs reached after the announcement of the sale of the company's European assets.
For value investors this is a second chance...
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