Reading Software Stock Surging on Adoption by Wyoming School Districts
Yesterday’s early rally faded over the course of the trading session, and traders are sustaining that bearish momentum so far during today’s trading: all major indexes are down sharply so far. Taiwan Semiconductor Manufacturing announced an extremely disappointing forecast for chip revenues (NYSE:TSM). This evidence lead to a broader selloff in tech, with investors surmising that falling component demand is a leading indicator of falling sales. Meanwhile, yields on the US Treasury again pierced 2.9%: many analysts believe this rate level helped trigger February’s steep selloff.
We expect more volatility ahead, with solid earnings continuing to duel with a stormy macro picture in the battle for the hearts and minds of stock traders.
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Today’s Top Performer: Scientific Learning (NASDAQ:SCIL)
SCIL focuses on harnessing cutting-edge neuroscience research to create software-based reading intervention program. Today, they announced that a set of at least 6 Wyoming school districts will be adopting SCIL’s Fast ForWord program. The districts made this decision after a free-trial period.
Fast ForWord is designed for reading interventions for students ranging from students who simply are a bit behind to students with substantial learning disabilities. The program targets particular cognitive skills that research has demonstrated is vital to improved reading abilities, backed by built-in practice regimens. While the market for learning software is large, this opportunity in Wyoming may demonstrate a particularly viable niche for this product: rural school districts that can’t efficiently provide specialized reading instruction.
Investors are buying the stock to the tune of 30%+ gains at the time of this writing. It’s the latest accomplishment for Scientific Learning, which has been on a tear for the past 3 years.
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