5 Best U.S. Stocks to Buy Now Under $10

4. Chegg, Inc. (NYSE:CHGG) 

Share Price as of September 22: $8.97
Number of Hedge Fund Holders: 28

Chegg, Inc. (NYSE:CHGG) is a learning platform that helps students with academic and career needs

Chegg, Inc. (NYSE:CHGG) was a part of 28 investors’ portfolios at the end of Q2 2023 compared to 27 in the previous quarter. As of June 30, Sylebra Capital Management is the largest investor in Chegg, Inc. (NYSE:CHGG) and has a position worth $79.63 million.

Here is what Artisan Partners said about Chegg, Inc. (NYSE:CHGG) in its second quarter 2023 investor letter:

“Along with Catalent, we ended our investment campaigns in Chegg, Inc. (NYSE:CHGG) and Option Health Care. Chegg is a digital education platform. Shares have been under pressure as the company has reported disappointing fundamental results. Our thesis centered on the belief that there were several tailwinds behind the company’s profit cycle—international expansion, opportunities to cross-sell existing users and longer term changes in higher education (e.g., more remote learning, more focus on student outcomes and pressure on tuition). However, we have been disappointed with the company’s execution and decided to exit the position.”