The current trading session has seen a remarkable surge in the stock price of Skillsoft Corp. (NYSE: SKIL). At the latest check before the close of US stock markets today, Skillsoft has witnessed a significant increase of 41.21%, reaching a valuation of $8.06. This upsurge in SKIL shares has occurred without any apparent news catalyst, prompting a closer examination of recent developments for deeper insights.
An organization dedicated to workforce development recently partnered with Skillsoft (SKIL) to form a multi-year partnership. Skillsoft's learning platform will be accessible to over 30,000 young adults enrolled with Year Up as a result of this collaboration. Using this platform, students will be equipped with the essential skills they need to be employed by prominent organizations in technology, banking, and finance.
As generative artificial intelligence advances rapidly, digital literacy has become increasingly important in today's professional landscape. The global youth population, however, lacks the necessary skills for using and comprehending technology effectively, by 67%. Moreover, projections suggest that 60% of individuals will lack fundamental, transferrable skills by 2030.
The partnership between Skillsoft and Year Up is poised to confront this crisis head-on by dismantling accessibility barriers faced by underserved young adults in the United States who are seeking to enhance their skills and pursue career opportunities. By providing access to Skillsoft's learning solutions, including Percipio, Codecademy, and CAISY, Year Up students can cultivate a comprehensive skill set encompassing technology, leadership, and management capabilities.
These skills will not only facilitate their entry into meaningful careers but also contribute to the formation of a more extensive and inclusive talent pool. Through this collaborative effort, both organizations endeavor to equip Year Up students and alumni with the requisite skills to succeed in the present and adapt to future skill demands.
Year Up's intensive training program, tailored for young adults aged 18-29, is complemented by Skillsoft's learning solutions, culminating in a professional work experience where participants can apply their newly acquired skills.