Overlooked Alpha

Overlooked Alpha

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Overlooked Alpha
Research Notes: AI's First Scalp
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Research Notes

Research Notes: AI's First Scalp

What's next for Chegg after 48% ChatGPT-driven plunge.

Wall Street and Main
May 04, 2023
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Overlooked Alpha
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Research Notes: AI's First Scalp
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The headlines came fast and furious. For the first time, artificial intelligence took down a stock. Shares of education platform Chegg CHGG 0.00%↑ plunged 48% on Tuesday following the company’s first quarter report. In that report, the company admitted that GPT-4, the newest version of ChatGPT, had impacted its business.

We know the market can overreact to an AI-dr…

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