With its stock up 30% since the company reported its fiscal first-quarter results late last week, the idea of stepping into a new stake in Chewy (NYSE: CHWY) right now could be a little intimidating. That's a big gain in a short period of time, inviting profit taking from the stock's now-loftier levels.

If Chewy was on your watch list of potential purchases prior to this jump, however, know that it's not too late to dive in. Indeed, if anything the surge could shake the stock out of a rut that's kept it from making any real forward progress since September of last year.

You may actually be best served by stepping in here despite the stock's recent rally, in fact, given the odds that more upside is in store.

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Source Fool.com