Isn't Chegg a company for helping students cheat? How is this publicly traded? What kind of future could they have?
As long as someone is willing to buy their stock, they can still be worth something.
No wonder it lost 50% of its value in one day. 😥
Literally just for cheating on linear algebra problem sets and even worse, tests
I’ve always been highly suspicious of Chegg’s business model. It’s well known they help students cheat, it’s not even a secret. I’m surprised people invested in them even before ChatGPT. What do they say on their earnings calls? “Yeah so thanks everyone for joining. We’ve helped an additional 2.6 million kids cheat on their homework this quarter.”
Good heavens! A company designed for students to cheat on their multiple choice assignments that have been used since 2006?
It saved my college grades
Good. They’re shady as hell. Students openly talk about getting solutions on Chegg.
When feds forgot to turn off their printer, even a useless app would be worth over 1bn.
I used them for textbooks in grad school back in late 2000s. Was revolutionary back then since the books were ridiculously expensive. The company AFAIK moved to a digital study aid shop in mid 2010s on so and it's all about cheating from that point. Was trying to get my subscriptions cancelled back in the day and support was really stalling until I filed a chargeback. Scammy practice.
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Apparently investors are wondering the same thing.
It was a $2b market cap company whose whole purpose was enabling academic dishonesty, and now it's made obsolete by chatgpt. The whole thing is pathetic
Sounds like a fragile business to me