Why Chewy Shares Are Moving Monday
Portfolio Pulse from Erica Kollmann
Chewy, Inc. (NYSE:CHWY) shares are experiencing volatility after Goldman Sachs upgraded the stock from Neutral to Buy, with a price target of $50. The stock is trading on above average volume, with over 4 million shares traded in Monday's session. Chewy is currently one of the top trending tickers on StockTwits and Yahoo! Finance, and has a significant short interest with more than 23% of shares being sold short.
July 17, 2023 | 2:14 pm
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POSITIVE IMPACT
Goldman Sachs upgraded Chewy's stock from Neutral to Buy, setting a price target of $50. The stock is trading on above average volume and has a significant short interest.
The upgrade from Goldman Sachs is a positive signal for Chewy's stock, which could lead to an increase in its price. The high trading volume indicates strong investor interest, while the significant short interest could lead to a short squeeze, further driving up the price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100