Chegg (CHGG) Receives a Hold From Craig-Hallum
Here Are the Major Earnings After the Close Today
Chegg Q3 2024 Earnings Preview
The first giant destroyed by AI has appeared: the stock price of this education company plummeted by 99%.
During the pandemic, the rise of online learning has led Chegg's subscription numbers and stock price to reach historic highs. However, the emergence of ChatGPT has changed everything, as students are now abandoning Chegg in favor of using the free ChatGPT to get answers. The loss of customers has caused the company's stock price to plummet by nearly half in a single day, a drop of almost 99% from its all-time high. Wall Street analysts predict that Chegg's Q3 revenue will continue to decline by 15%.
Correction to ChatGPT and Online Eduction Giant Chegg Article on Nov. 9 -- WSJ
How ChatGPT Brought Down an Online Education Giant -- WSJ