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Chegg stock sinks on disappointing Q2 guidance, AI headwinds

Julie Hyman and Josh Lipton

Shares of Chegg (CHGG) are sinking after the ed-tech company delivered disappointing second-quarter guidance as AI competition stunts its growth.

The company also announced significant leadership changes, as Chief Executive Officer Dan Rosensweig will become Executive Chairman after 14 years in the role. He will be succeeded as CEO by COO Nathan Schultz as of June 1.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This article was written by Melanie Riehl