3 Reasons Why Chewy Stock Is Out of Favor With the Market
Chewy (NYSE: CHWY), a one-time market darling, is falling out of favor with the market as of late. The stock rose to $120 per share earlier this year and has since almost halved, trading at $63 as of this writing.
The fall from grace can be attributed to several reasons, including but not limited to: rising costs for labor and advertising, reopening economies, and supply shortages. Let's take a closer look at these factors individually to understand why the market is placing such importance on them.
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Source Fool.com