- Chegg Inc (NYSE:CHGG) has entered into an accelerated share repurchase agreement (ASR) with Bank of America N.A. to repurchase $300 million of its common stock.
- Under the ASR, Chegg will receive about 8.6 million shares by February 25, 2022.
- The ASR transaction will be effectuated under Chegg’s previously announced $1.0 billion securities repurchase program.
- As of January 31, 2022, $365 million remained available for future repurchases under this program, and $65 million will remain available after completion of the ASR.
- Price Action: CHGG shares are trading higher by 4.66% at $29.34 on the last check Wednesday.
Most Oversold Stocks In Consumer Staples Sector: Herbalife, United Natural Foods And More
The most oversold stocks in the consumer staples sector presents an opportunity to buy into undervalued companies. Here’s the latest list of major oversold players in this sector.
Herbalife Nutrition Ltd. (NYSE: HLF)
