On May 1st Chegg stock was at $17.60 and the company's market cap was $2 billion. Immediately after the announcement, the stock went to $9.08 (it recovered to

On May 1st Chegg stock was at $17.60 and the company's market cap was $2 billion. Immediately after the announcement, the stock went to $9.08 (it recovered to $9.71 Friday). Chegg lost almost half its value - almost one billion in value. People are talking about whether deep learning and AI will affect companies and job, and when that will happen, and in the case of Chegg we already have the answer (barring them making some large pivot).