Alright so quick rundown, Chegg earnings came out recently and caused a massive oversold 50% haircut from 60 to 30 and is starting to bottom out for a few days as you can see on the chart. Before this ATH was 115, and currently the RSI is at an all time low, proving the oversold conditions.
Fundamentally there is still a $600 million buyback to be completed by end of year which means there’s significant upside at these levels. Current price is $29.00. Y’all always complain how you wish you knew about a stock when it’s low before it’s liftoff so here you go.
Position: 1k shares at 30 and 50 contracts of $40c 1/21/22.
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