Shares of two big online education stocks tank more than 10% as students use ChatGPT
Publishing timestamp: 2024-04-30 11:52:44
Summary
Chegg and Coursera stocks dropped over 10% after issuing disappointing guidance due to students using AI tools. Chegg's new CEO expects lower revenue and analysts are concerned about the impact of free AI tools on paid subscriptions. Coursera also expects lower revenue and some firms have cut their price targets despite using AI to their advantage.
Sentiment: NEGATIVE
Keywords: investment strategy, markets, business news, coursera inc, breaking news: technology, stock markets, technology, breaking news: markets, chegg inc,
Source: https://www.cnbc.com/2024/04/30/online-education-stocks-tank-on-chatgpt-threat.html