CHWY - Is Now the Time to Fetch Some Chewy Stock?
2024-06-02 10:15:00 ET
The market may be finally throwing Chewy (NYSE: CHWY) stock a bone. The stock rose more than 25% after the company announced its earnings for the first quarter of fiscal 2025 (ended April 30).
Even with that surge in the stock price, it is still more than 80% below the all-time high set in early 2021. Chewy will likely not return to that record anytime soon, but could the increase signify the beginning of a recovery in the internet and direct marketing retailer ? Let's take a closer look.
The future looks bright, or at least brighter, for Chewy. After numerous quarters of lower discretionary spending on pets, the company forecasts an improvement in the second half of the year.
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Is Now the Time to Fetch Some Chewy Stock?