(Reuters) -Stride lost about half of its market value on Wednesday after the edutech company issued a dour annual revenue forecast, citing struggles to enroll new students on its platform.

U.S.-based Stride’s shares plummeted 50% to $75.98, putting them also on track for their biggest one-day loss on record.

Late on Tuesday, the company forecast revenue in the range of $2.48 billion to $2.55 billion for the fiscal year 2026. Analysts on average were expecting $2.59 billion, according to data compiled by LSEG.

CEO James Rhyu attributed the weak forecast to lower student enrollments as the company grapples with implementation challenges from a recent upgrade to its learning platforms.

“We heard from our customers that their engagement with these platforms detracted from their overall exp

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