As you may have heard, the disaster du jour is Chegg, which I’ve described as being like a Netflix for college textbooks:

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Apparently, the post-Covid world is also the post-hard-courses world, because schools have turned the heat way down on the youngsters (standardized tests not required for admission, easier courses, etc.) Whatever the reason, CHGG has lost about 40% of its value instantly and is at the same price it was in January 2019, which was about $10 trillion ago as measured in stimulus terms.

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I wrote about Chegg in January, and I think we can at least agree that “the cleanness of the uptrend has ended” was close to the truth.

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