Chegg Inc. experienced a significant decline in its stock value, dropping over 50% since January following an investigation by The Bear Cave. The online education company, which recently appointed a new CEO, also faces challenges from AI tools like ChatGPT, leading to a downward revision of its Q2 revenue forecast to between $159 million and $161 million, below the expected $174 million. Wall Street analysts have downgraded the stock due to increased competition from these AI tools. Additionally, the company's stock plummeted nearly 30% after announcing the threat posed by ChatGPT to its product growth. Chegg's adjusted EBITDA was $222.4M last year, and its current stock price is $5.17.