Stock Market Sell-Off: Down 54%, This Potential Growth Play Is a Steal Right Now
Shares of Chewy (NYSE: CHWY) have shed 54% of their value in 2022 amid the stock market sell-off as investors pressed the panic button on account of macroeconomic headwinds and the company's poor run of results in recent quarters.
The online retailer of pet products and supplies is grappling with slowing growth thanks to supply-chain disruptions that have led to a loss of sales as well as an increase in costs that have hurt margins and the bottom line.
Chewy, however, is operating in a fast-growing market that seems set for growth over the long run, driven by an increase in the number of people shopping online for pet products, supplies, and other services such as medical consultations.
Source Fool.com
