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Benzinga
Benzinga
Business
Henry Khederian

Here's Why Chegg Shares Are Rising Today

Chegg Chegg Inc CHGG NYSE

Chegg Inc (NYSE:CHGG) shares are trading higher by 5.78% at $21.60 after the company announced it increased its buyback program by $1 billion.

Chegg says, in addition to this increased $1 billion securities repurchase authorization, the company has approximately $65 million remaining from its previously announced $1 billion securities repurchase program. Chegg currently expects to fund the repurchase program from its existing cash balance and future cash flows from operations.

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