Why Chewy Stock Is Soaring This Week
Shares of leading pet goods e-commerce juggernaut (NYSE: CHWY) are up 11% this week as of 1 p.m. ET on Friday, according to data provided by S&P Global Market Intelligence.
Chewy reported earnings last Wednesday, Sept. 10, and immediately saw its shares drop after it offered up guidance that traders deemed was too conservative.
At that time, I argued that the sell-off seemed to be an overreaction and that the company's underlying business looked stronger than ever. One week later, Chewy's stock has bounced back on minimal news, so perhaps long-term investors have turned the tide against short-term traders selling due to 90 days' worth of information.
Source Fool.com
Chewy Inc Stock
€28.21
1.200%
The stock is an absolute favorite of our community with 40 Buy predictions and no Sell predictions.
With a target price of 39 € there is a positive potential of 38.25% for Chewy Inc compared to the current price of 28.21 €.
