Why Chewy Stock Jumped 17% Last Month

Shares of Chewy (NYSE: CHWY), the e-commerce pet products company, were among the winners last month, gaining 17%, according to data from S&P Global Market Intelligence. While there was no specific news out on Chewy, the stock benefited from a continuing recovery in the market, a brief rumor of Walmart taking a stake, and strong earnings reports from other e-commerce companies at the end of the month.

As you can see from the chart below, the gains in Chewy stock came from two separate spikes.

Source Fool.com