by David Safier
This is PR at its finest. K12 Inc., the for-profit, publicly traded online school corporation has been on a serious stock market slide for the past three months, though it really began more than a year ago, as you can see on the graph above. It's been hovering in the $12 to $14 range lately, from a high of $38. So what's the news in its Monday media release?
We looked at the Education Services industry and measured relative performance to find the top stocks. Relative outperformance is a bullish sign of underlying fundamental and technical strength. We look at yesterday's price action of all companies in this peer group.
K12 (NYSE:LRN) ranks first with a gain of 5.31%; ITT Educational Services (NYSE:ESI) ranks second with a gain of 3.59%; and Apollo Group (NASDAQ:APOL) ranks third with a gain of 1.90%.
Yes! We climbed from around $12.5 to $13 Friday! We're number one (in the gains among education stocks that day)!
I don't expect to see another media release today. The stock is back down to $12.45.
Ah, last Friday. The good old days.