Over 80% of the over 200 year old company’s revenue comes from digital platforms. It’s legacy print business is becoming a drag on its bottom line as college enrollment has yet to recover post-pandemic. Furthermore, today’s tight labor market has people questioning the value of a college education when wages in trades now compete with white collar jobs. This results in fewer textbooks sold. Wiley faces headwinds with increased operating costs and rising interest rates which are dragging on their earnings. This should lead investors to evaluate if they want to continue holding these shares as their stock price continues to weaken to levels not seen since the pandemic.