Udemy is likely nearing the top end of its price.

I bought into the Udemy IPO. Since then, the stock is worth less than half of the IPO strike price. Looking at the company, the number of competitors in the market, as well as the margins both to the company and its instructors (I am one, with over 7k students), I just don't see the stock ever reaching over about $15-$20 per share.