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Why Chewy Stock Rose 13% Last Month

TheMotleyFool

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Shares of Chewy (NYSE: CHWY) were climbing last month as the company benefited from some positive analyst attention. It may also have risen in sympathy with GameStop as a major part of the buy thesis on GameStop was that Chewy co-founder Ryan Cohen was backing the stock.

According to data from S&P Global Market Intelligence, shares of the online pet products seller finished January up 13%. The chart below shows the stock spiked in the first half of the month before giving back those gains.