Pet Stocks Have Gone to the Dogs This Earnings Season
Fresh dog and cat food distributor Freshpet (NASDAQ: FRPT) opened sharply lower on Tuesday after posting disappointing financial results. Two weeks earlier it was pet wellness specialist PetMed Express (NASDAQ: PETS) tumbling after also failing to impress with fresh quarterly results. Online pet retailer Chewy (NYSE: CHWY) won't report until next month -- it operates on a different fiscal calendar -- but it also buckled when it announced earnings two months ago.
What's happening in this dog-stock-eat-dog-stock world? This should've been a great time to cater to canine and feline lovers. Pet adoptions were all the rage last year when the pandemic found us at home and craving furry companions. The humanization of pets trend finds us spoiling our new housemates, making them feel more like a member of the family. Reality hasn't lived up to the hype. Let's break this down.
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Source Fool.com
