Why PetMed Express Stock Is Sinking Today

Shares of PetMed Express (NASDAQ: PETS) were sinking 22.8% as of 10:54 a.m. EDT on Thursday. The decline came after Sidoti analyst Anthony Lebiedzinski downgraded the stock to a neutral rating from his previous buy rating.

Lebiedzinksi's downgrade of PetMed came following a big spike for the online pet pharmacy stock on Wednesday. Shares jumped more than 58%. This sizzling gain appeared to be related to traders in some online communities viewing PetMed Express as a good short squeeze candidate.

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Source Fool.com