What happened Shares of 2U (NASDAQ: TWOU) spiked more than 14% on Friday morning following a report that the online education company has hired advisers to explore its options. The stock gave much of that gain back as the day went on, but it appears the company might be following through on a push by a hedge fund to find a buyer. So what 2U jumped on Friday after Bloomberg reported that the company has been working with advisers to explore ways to improve performance, including a possible sale. The review is ongoing, according to the reports, and the company has not yet determined whether it will stay independent or do a deal. Image source: Getty Images. The report comes three months after Bloomberg said that activist investor Sachem Head Capital Management had built a position in 2U with plans to push the company to explore strategic alternatives. Shares of 2U have lost more than half their value in the past year, with the stock hit by an August announcement that the company was ratcheting down its near-term growth expectations in order to focus on operational efficiency in response to a flood of new competition in the business of facilitating online learning. The announcement caused investors to question whether 2U is a long-term growth stock. Now what Shares of 2U are down more than 30% from the company's IPO, and deal speculation for now at least is about the only thing that can get the stock moving in the right direction. TWOU data by YCharts. Although 2U is yet to confirm the Bloomberg report, I believe it is likely the company is exploring options and a buyout is possible. It is unlikely a deal would be done at a price approaching 2U's historic highs as a public company, and deal speculation is no reason to buy in, but for existing investors, it is worth holding on to see how the company's review plays out. 10 stocks we like better than 2UWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and 2U wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of December 1, 2019 Lou Whiteman owns shares of 2U. The Motley Fool owns shares of and recommends 2U. The Motley Fool has a disclosure policy.Source