Is Chewy Stock a Contrarian Buy?
Chewy (NYSE: CHWY), a native to the online pet retailer space, is under heavy pressure today. Specifically, the e-commerce company's shares fell by as much as 6.51% in pre-market trading Thursday morning.
What's weighing on Chewy's stock? After the closing bell Wednesday, Chewy reported fiscal fourth-quarter and full-year 2022 financial results. Although the e-commerce company posted an impressive 13.4% increase in year-over-year net sales to $2.71 billion, investors appear to be concerned about two key issues in yesterday's earnings release:
Should investors buy Chewy stock on this dip? Let's dig deeper to find out.
Source Fool.com