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Why Chewy Stock (Only) Rose 15% in April

TheMotleyFool

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Why Chewy Stock (Only) Rose 15% in April

Pet-product business Chewy (NYSE: CHWY) kicked April off by reporting full-year 2019 earnings and reporting higher sales volume due to COVID-19. This resulted in shares of Chewy rising 15.3% in April, according to data provided by S&P Global Market Intelligence.

April's gain doesn't tell the whole story. Chewy stock has risen over 40% in 2020, and has recovered over 75% from March lows. This rapid rise led some analysts to declare the stock overvalued, which prevented further gains in April.