Why Are Chegg (CHGG) Shares Soaring Today
Update: 2025-10-31
Description
Chegg faces a significant challenge as students turn to free AI tools, causing a decline in their paid homework help service. In response, the company announces a major restructuring, including a return of Dan Rosensweig as CEO and a 45% workforce reduction. Chegg aims to pivot towards the skilling market, valued at $40 billion, and generate $70 million in revenue by 2025. Despite a stock jump, Chegg's shares are still down 34% this year, and investors remain cautious about the company's ability to successfully transition to an enterprise learning platform.
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