The Most Underappreciated Reason to Own Chewy Stock

Chewy.com (NYSE: CHWY) was one of the hottest stocks of 2020. Its share price increased by more than 200% in the year as more people ordered products from the online pet store. The company is the beneficiary of several macro trends that are helping it grow in scale.

One of those trends accelerated sharply at the onset of the pandemic: the shift from in-person shopping to online. However, this is something that most investors are well aware of. And it's generally more profitable to pick up on a trend before everyone else knows about it and it gets priced into the stock. The interesting macro trend I'll discuss below has not been widely discussed as a reason to own Chewy stock.

Image source: Getty Images.

Source Fool.com