Why Chegg Is Rocketing 31% Higher Today
Shares of Chegg (NYSE: CHGG) surged 31% in morning trading after turning in a first-quarter earnings report that easily beat analyst expectations. CEO Dan Rosensweig said the online education technology specialist even "performed ahead of our expectations and we are grateful to have helped so many students."
Online education is a major point of consideration for parents and students due to the cancellation of the balance of the academic school year because of the coronavirus. Without the one-on-one assistance students typically can receive from a teacher, the online tutoring in writing, math, and more that Chegg provides could see a surge in demand.
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Source Fool.com
