This Staggering Statistic Could Be Costing Chegg

Chegg (NYSE: CHGG) is an education technology company that primarily serves college students. As a result, it is dependent on the total enrollment levels at colleges. With fewer students, it leaves a smaller market for Chegg to capture. 

That is precisely what has happened in the U.S. since the pandemic's onset. That's understandable. Shooting for a college degree is challenging already, but even more so during a pandemic. Given that backdrop, it's not surprising that in the U.S., one million students have forgone or postponed a college education over the last two years. Let's look closer at the effect it's having on Chegg. 

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Source Fool.com