John Wiley Sons Inc (WLY)

Shares of John Wiley Sons Inc (WLY) dropped by 10.63% from $34.63 to $30.95 in the trading on Tuesday, October 10, 2023. The reason why WLY stock down is due to a CEO transition announcement. The abrupt departure of John Wiley & Sons Inc.'s CEO, Brian Napack, triggered a drop in the company's stock price today, as it instilled uncertainty among investors. In response, Matthew Kissner was appointed as interim CEO, and the company postponed its scheduled Investor Day, originally set for October 12, adding to investor apprehension. The sudden leadership change and postponed event fueled concerns about the company's direction, leading to the significant stock price decline, and investors are closely monitoring how the transition may impact its future performance.

WLY's stock fell 11.39% following the disappointing fourth-quarter results. The company's reported revenue and operating income decreased by 3% and 74% respectively compared to the previous year.

https://finance.yahoo.com/news/wiley-reports-fourth-quarter-fiscal-123000087.html