Why Chewy Stock Dropped on Thursday
Chewy (NYSE: CHWY) stock found itself in the doghouse on Thursday. Shares fell 6% through early afternoon trading, compared to a modest uptick in the S 500. That move contributed to a rough year for owners of the pet supply retailer, which is down over 50% in the past 12 months.
Thursday's slump was sparked by some discouraging news on the earnings front .
Chewy executives reported Q4 operating results before the market opened, and Wall Street wasn't thrilled with the details. While the e-commerce specialist boosted sales and improved its profit margin, both metrics were sluggish. Looking deeper into the results reveals some caution signs for the future.
Source Fool.com
Chewy Inc Stock
€20.80
-0.450%
The stock is one of the favorites of our community with 38 Buy predictions and 3 Sell predictions.
With a target price of 27 € there is a positive potential of 29.84% for Chewy Inc compared to the current price of 20.8 €.
