ChatGPT's rise causes Chegg's stock to plummet.
TL;DR Summary
Pearson's shares have been hit after Chegg warned that it had uncovered a data breach at its subsidiary, Thinkful, which had been acquired by Chegg in 2019. The breach involved the personal data of 700 students who had used the ChatGPT service, which was developed by Thinkful. Pearson had partnered with Chegg to offer online tutoring services to students.
- Chegg shares plummet as it admits threat from ChatGPT Financial Times
- Chegg drops more than 40% after saying ChatGPT is killing its business CNBC
- Edtech Chegg slumps on revenue warning as ChatGPT threatens growth Reuters
- Students are turning to ChatGPT for study help, and Chegg stock plummets 38% MarketWatch
- ChatGPT Threat Sparks 38% Selloff in Homework-Help Firm Chegg Yahoo Finance
Reading Insights
Total Reads
0
Unique Readers
5
Time Saved
0 min
vs 1 min read
Condensed
50%
117 → 59 words
Want the full story? Read the original article
Read on Financial Times