(NYSE: CHWY) has taken investors on a wild ride over the past five years. The online pet products retailer was spun out from PetSmart in 2019, and it soared from its initial public offering (IPO) price of $22 to a record high of $118.69 on Feb. 12, 2021.

But today, Chewy's stock trades at about $17. A $10,000 investment in its IPO would have grown to nearly $54,000 before shrinking back to $7,700. The stock lost its luster as growth cooled off and rising interest rates compressed its valuation.

Let's assess Chewy's near-term challenges to see if it can bounce back over the next five years.

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Source Fool.com