What's Going On With Chegg Stock Today?

Chegg Inc CHGG shares are trading higher Thursday after the company boosted its share buyback by $200 million.

What Happened: Chegg's board of directors authorized an increase of $200 million to the company's existing securities repurchase program, which allows the company to buy back common stock and convertible notes. 

Chegg had approximately $89 million remaining on the buyback before authorizing the additional $200 million. The repurchase program has no expiration date. The company currently expects to fund any repurchases with its existing cash balance and future cash flow from operations.

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CHGG Price Action: Chegg has a 52-week high of $30.05 and a 52-week low of $8.55.

Chegg shares were up 3.04% at $9.81 at the time of publication, per Benzinga Pro.

Photo: Hermann Traub from Pixabay.