For-profit education stocks have surged on expectations that President-elect Donald Trump and a Republican Congress may ease regulations imposed on the industry by the Obama administration, Barron’s said in a report.
Stocks such as Grand Canyon Education, DeVry Education Group and Capella Education rose about 14 percent last week. Trump won an upset victory in Tuesday’s presidential election.
Jeff Silber at BMO Capital Markets said Trump’s election could be good news for for-profit education companies, according to Barron’s.
A federal court trial in San Diego is set to begin on Nov. 28 over claims by former students of now-defunct Trump University that they were defrauded by a series of real estate seminars. A Trump lawyer has requested that the trial be delayed until after Trump’s inauguration on Jan. 20. Trump denies the students’ allegations.
(Reporting by Chris Prentice in New York- Editing by Peter Cooney)
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