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  "documentTitle": "2U, Inc. (TWOU)",
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  "presentationDate": "2018-07-19 00:00:00",
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      "text": "2U is trading at peak valuation on the perception of flawless execution of existing and future program launches. Our report will illustrate the pressures facing 2U and why an unfavorable risk/reward exists at its current valuation.",
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      "text": "EV / Adj. EBITDA: 451.1x",
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      "text": "Source: Bloomberg, Company Filings and Spruce Point Estimates. Diluted Shares and cash reflect the capital raise that closed on May 25, 2018",
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