Textbook Rental Hub Chegg’s Stock Drops More Than 20 Percent

While the stock gods may have smiled upon Twitter, textbook rental website Chegg saw no such luck Wednesday, tumbling off more than 20 percent from its IPO price on its first day trading, according to Forbes. With an initial price of $12.50, the stock peaked in immediate trading only to fall into a steady decline and close at $9.68 at the end of the day — a total drop of 22.6 percent.

Topics:  twitter   chegg   forbes   ipo   gigaom   q4   ces   research   stock   percent   textbook rental   day   price   analysis   trading   

 

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