No. of Recommendations: 0
Bridgepoint Education's shares dropped 10% or so today as a result of an announcement the company made last night, that the DOJ had opened an investigation into the company's payment of admissions employees.

This isn't good news and makes the company's prospects bleaker, at least in the short term (piling on top of the accreditation headaches it's already suffering). I want to see what MDP is going to say about this and talk things over with Charly Travers here before deciding if I should hold on or cut my losses here. Even before the news, shares were down over 50% from my purchase price of a bit over $20.

When catalysts don't work, they really don't work. :-P

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