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Chegg's declining revenues and high layoffs indicate serious business viability issues similar to past industry flounders, suggesting further price diminishment.
What happened, with direct paths to the underlying reporting
Chegg's stock down 99% from all-time high amid layoffs. Layoffs of 388 employees signal struggles with AI competition. Revenue down 23%, with a negative earnings forecast. Chegg's business model faces challenges from free alternatives. Analysts believe Chegg's stock is undervalued relative to targets.
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