Chegg, Etsy, Fiverr, Revolve, and ACV Auctions Shares Plummet, What You Need To Know

What Happened?

A number of stocks fell in the afternoon session after the U.S. announced potential tariffs on several European countries. 

The sell-off was a reaction to news that the White House planned to impose a 10% tariff on imports from eight European nations, including France, Germany, and the United Kingdom, starting February 1. Reports indicated the tariffs were intended to pressure Denmark over the potential sale of Greenland to the U.S. and could rise to 25% if a deal was not reached. The announcement caused a significant downturn in U.S. stocks, with the S&P 500 and Dow Jones falling more than 1.4% as investors returned from a holiday weekend and reacted to the heightened trade uncertainty. 

The downturn was further exacerbated by a spike in Treasury yields. Higher rates particularly hurt growth stocks such as tech names since investors must discount financials further out in the future back to the present.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

• Consumer Subscription company Chegg fell 9.9%. Is now the time to buy Chegg? Access our full analysis report here, it’s free.
• Online Marketplace company Etsy (NASDAQ:ETSY) fell 3.1%. Is now the time to buy Etsy? Access our full analysis report here, it’s free.
• Gig Economy company Fiverr fell 4.3%. Is now the time to buy Fiverr? Access our full analysis report here, it’s free.
• Online Retail company Revolve fell 5.2%. Is now the time to buy Revolve? Access our full analysis report here, it’s free.
• Online Marketplace company ACV Auctions fell 3.7%. Is now the time to buy ACV Auctions? Access our full analysis report here, it’s free.

Zooming In On Chegg (CHGG)

Chegg’s shares are extremely volatile and have had 98 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 22 days ago when the stock dropped 3.3% on the news that heavyweight stocks retreated, pulling back from recent record highs as the year-end rally showed signs of fatigue. The S&P 500 and Nasdaq were under pressure as the dominant artificial intelligence trade cooled off. Notable names like Nvidia were down as traders locked in profits following a banner year where the Nasdaq surged over 20%. With the S&P 500 recently hitting intraday highs near 6,945, this dip reflected a shift in internal momentum rather than a response to major economic news.

Chegg is down 20.7% since the beginning of the year, and at $0.78 per share, it is trading 57.8% below its 52-week high of $1.84 from September 2025. Investors who bought $1,000 worth of Chegg’s shares 5 years ago would now be looking at an investment worth $7.77.