Like other businesses that benefited from COVID-19, the pet supplies sector soared during the early stages of the pandemic only to come crashing down. Industry leader Chewy (NYSE: CHWY) was a victim of that sell-off.

After soaring from its initial public offering (IPO) price of $22 to an all-time high of $120, Chewy has given up all of those gains and is trading at nearly the same price it listed its shares at five years ago.

Despite the disappointing slide over the last few years, Chewy remains one of the most promising growth stocks in the pet industry; the business continues to expand though its valuation has come down substantially.

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Source Fool.com