Why Chewy Stock Jumped 28% Last Month
Shares of pet e-commerce company (NYSE: CHWY) jumped 28.4% in June, according to data provided by S&P Global Market Intelligence. It was an unusual month with trading fueled by ongoing speculation over who was buying and who was selling.
For example, Chewy stock spiked in mid-June on rumors that Ryan Cohen was buying shares on behalf of GameStop. Cohen founded Chewy but left the company in 2018. During the pandemic, he became an activist investor in GameStop and eventually took on the role CEO. And as CEO, he plans to invest GameStop's cash in other publicly-traded companies.
On June 20, Gordon Haskett analyst Don Bilson noted that recent gains for Chewy stock were being driven by speculation that GameStop was buying shares of Chewy under Cohen's direction, according to The Fly.
Source Fool.com
Chewy Inc Stock
With 38 Buy predictions and 3 Sell predictions Chewy Inc is one of the favorites of our community.
As a result the target price of 28 € shows a positive potential of 21.5% compared to the current price of 23.05 € for Chewy Inc.
