2024-04-23 06:53:46 ET
Summary
- Chegg's stock price has plummeted by 94% in the past three years due to challenges in adapting to AI trends and a drop in subscriptions.
- The company's implementation of AI into their services was poorly planned and executed, failing to impress or retain subscribers.
- Chegg's unique value lies in their ability to provide quality, human-written expert answers, but they need to heavily market themselves as real expert answers to differentiate from AI-driven solutions.
Introduction
Chegg ( CHGG ) operates in the education services industry, providing online tutoring, textbook rentals, and homework solutions to students worldwide. Chegg’s revenue is driven by subscriptions to their services including Chegg Study, Chegg Writing, and Math Solver....
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Falling Behind: Chegg's Strategic Blunders In The AI Race