Chegg.com’s initial public offering of stock came to market with stronger than expected demand, pricing 15 million shares at $12.50 a share — above the expected offering range of $9.50 to $11.50 a share. But that initial demand looks to have been driven by speculators hoping for a quick flip on the first dotcom offering to follow Twitter’s big IPO from November 7 rather than investors eager for a piece of the textbook rental business. Chegg’s shares have declined since opening earlier this morning, currently down over 15 percent at 11:00 and trading back at the middle of the expected […]
