Chegg shares are trading higher after the company announced a $200 million buyback increase.
Portfolio Pulse from Benzinga Newsdesk
Chegg has announced a $200 million stock buyback, leading to a rise in its share prices.
August 17, 2023 | 2:57 pm
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Chegg's stock is trading higher after the company announced a $200 million buyback.
Stock buybacks often lead to a rise in share prices as they reduce the number of shares in circulation, thereby increasing earnings per share. This announcement is directly related to Chegg and is likely to have a positive impact on its stock price in the short term.
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