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ChatGPT Increasingly Popular for Student Study Assistance – Chegg Stock Plummets 30%

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Chegg Inc. has faced a drastic decline in their stock prices due to the rising popularity of ChatGPT as a learning resource, causing an alarming decrease of 30% on Monday. Low subscriber growth and reported earnings totaling $2.2 million or 2 cents a share have sparked worry amongst investors, resulting in Chegg’s stock at its lowest point since 2017. Dan Rosensweig, President and CEO of Chegg, attributes Chegg’s revenue drop to student interest in ChatGPT. Chegg is a valuable online learning platform aiding students with tutors, answers and more.
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