Chegg on My Face

I don't think my timing for Chegg (CHGG) could have been much worse Thursday. The company reported very disappointing earnings, as well as poor guidance for next quarter, although the full year still seems in line with expectations. The biggest concern in the report was the lack of free cash flow going forward.

In any case, at this point the technical picture is broken, and I'm left with Chegg on my face and a loss. My trade thesis, which was of a technical nature, has been trumped by changing fundamentals -- so I have no choice but to exit the position today, regardless of whether I believe the selloff is overdone....103 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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