Zovio Up 36% to 20 Cents as Volume Tops 145.4M

Dow Jones2022-10-19

By Josh Beckerman

Zovio Inc. shares rose 36%, to 20 cents, on volume of more than 145.4 million shares, compared with a 65-day average of 1.8 million.

The education-technology-services company said in a Sept. 20 securities filing that it plans to dissolve. After "expanding operational losses" this year, Zovio has been working on monetizing assets and returning any available net proceeds to stockholders. It continues to seek a buyer for Fullstack Academy.

Zovio will hold a virtual stockholder meeting Oct. 25 for a vote on its dissolution plan.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

October 18, 2022 14:38 ET (18:38 GMT)

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