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Barchart
Nash Riggins

Chegg Was Once a High-Flying Tech Stock. Its Shares Now Trade Down 99.03% from Record Highs, All Thanks to AI.

Chegg Google

Not too long ago, Chegg (CHGG) looked absolutely unbeatable. It was without doubt one of the biggest winners to emerge from the COVID-19 pandemic, riding a wave of digital learning and remote working all the way to the bank. By the end of 2021, Chegg’s major subscription growth catapulted the company’s market capitalization to almost $15 billion.

Fast-forward five years, and Chegg’s stock has totally bottomed out. We’re talking about a 99% drop in value that equates to just over $1 a share. So, what on earth happened?

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