Why Chewy Is Falling Today
Shares of Chewy (NYSE: CHWY) are falling 3.9% as of 10:32 a.m. ET on Friday on no company-specific news and despite the major market indexes all pretty much treading water so far.
The online pet products company has seen its shares rise 22% this year, and they have doubled from the lows they hit last May as it continues to add more new customers who continue to spend as much on their pets as Chewy's older ones. Even so, it ended 2022 with 20.5 million active customers, down from 20.7 million the year before.
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Source Fool.com
