The stock fell more than as much as 20% Tuesday morning following the earnings release, which included an announcement that Nathan Schultz will replace Dan Rosensweig as CEO.Chegg stock has lost nearly 70% over the last year and been roughly cut in half in 2024. From its peak in 2021, the stock is down over 95%.
Chegg stock was a pandemic darling stock of sort, as education moved online and the company thrived, sending the stock to an all-time high of $113 per share in early 2021. For its part, Chegg believes AI can be a benefit to its business moving forward as it integrates the technology into its product over the next several years.
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