Chegg's stock was almost halved on Tuesday after CEO Dan Rosensweig warned that OpenAI's ChatGPT was 'having an impact' on customer growth.
on Tuesday, driven by comments in the company's earnings report about the risks of artificial intelligence, was "extraordinarily overblown," CEO Dan Rosensweig told CNBC Tuesday.
Chegg said it was only providing guidance for the coming quarter and not for the full year because it's "too early to tell how this will play out." Rosensweig reminded investors, during the CNBC interview, that Chegg generates free cash flow and earnings, on an adjusted basis, and has "more than enough cash to pay off our debt.
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