Why Chewy Stock Was Sliding Today
Shares of Chewy (NYSE: CHWY), the online pet products retailer, were moving lower today. While there was no company-specific news out on Chewy, the stock seemed to fall in sympathy with rival Petco (NASDAQ: WOOF), which posted disappointing results in its first-quarter earnings report this morning.
As of 12:12 p.m. ET, Chewy stock was down 3.7% after falling as much as 5.8% earlier in the session. Petco, meanwhile, was down 18.3% at the same time.
In its first-quarter earnings report, Petco said comparable sales rose 5.1%, driving revenue growth of 5.4% to $1.56 billion, which topped estimates at $1.51 billion.
Source Fool.com
Chewy Inc Stock
€23.39
1.940%
The stock is one of the favorites of our community with 38 Buy predictions and 3 Sell predictions.
With a target price of 28 € there is a slightly positive potential of 19.71% for Chewy Inc compared to the current price of 23.39 €.
