Here's Why Chegg Shares Are Rising Today

Chegg Inc CHGG shares are trading higher by 5.78% at $21.60 after the company announced it increased its buyback program by $1 billion.

Chegg says, in addition to this increased $1 billion securities repurchase authorization, the company has approximately $65 million remaining from its previously announced $1 billion securities repurchase program. Chegg currently expects to fund the repurchase program from its existing cash balance and future cash flows from operations.

See Also: Why Tesla Stock Is Falling Today

Chegg is an American educational services company that specializes in textbook rentals, course assistance, and online tutoring.

According to data from Benzinga Pro, Chegg has a 52-week high of $90.50 and a 52-week low of $15.66.

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