2024-06-30 13:59:39 ET
Summary
- Chewy stock has jumped significantly over the past month, driven in part by meme stock hype.
- It's a good time for investors to de-risk their positions and lock in gains here, as Chewy now trades at >20x current-year adjusted EBITDA.
- Though margins continue to expand at a healthy pace, Chewy hasn't been able to reverse growth deceleration.
After more than a year in the penalty box for slower growth and weaker consumer spending, Chewy ( CHWY ) has been on a recent tear. Driven by both a combination of well-received earnings prints as well as being talked up by the meme stock pundit “Roaring Kitty,” Chewy is now up ~15% year to date....
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For further details see:
Chewy: This Rally Will Fade