Why Chewy Stock Hit A New All-Time Low Today
Portfolio Pulse from Henry Khederian
Chewy Inc's (NYSE:CHWY) shares are trading lower by 2.85% to $19.58, hitting a new all-time low. The drop follows the company's filing for a mixed shelf offering and disappointing Q2 results. The company intends to use the proceeds from the sale of securities for general corporate purposes, including debt repayment, financing acquisitions, and working capital.
September 18, 2023 | 4:09 pm
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Chewy Inc's stock is trading lower following a mixed shelf offering and disappointing Q2 results. The company plans to use the proceeds for general corporate purposes.
Chewy's stock is trading lower due to the company's recent mixed shelf offering and disappointing Q2 results. The mixed shelf offering indicates that the company may be in need of cash, which can be a red flag for investors. Additionally, the poor Q2 results have likely shaken investor confidence in the company's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100