Chegg's stock falls on weak first-quarter forecast as it tries to pivot to AI

Shares of the education-technology platform Chegg Inc. CHGG tumbled 9.7% after hours on Monday after the company forecast first-quarter sales that were below expectations and said it was “too early to predict when we will return to revenue and margin growth.” The company said it expected first-quarter sales of between $173 million and $175 million, below FactSet estimates of $180.1 million. The company, whose technology is intended to help students study, is investing in developing an AI assistant, after e ...