What Happened With Chewy Stock Today?
Portfolio Pulse from Ryan Gustafson
Chewy, Inc. (NYSE:CHWY) shares traded lower due to overall market weakness amid a rise in Treasury yields following CPI data. The CPI rose by 3.7% year-on-year, exceeding the expected figure of 3.6%. This created a risk-averse sentiment in investors, impacting Chewy's stock. The company's stock is trading near its all-time low.
October 12, 2023 | 8:14 pm
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Chewy's stock traded lower due to market weakness and rising Treasury yields. The rise in CPI created a risk-averse sentiment among investors, impacting the stock. The stock is trading near its all-time low.
The rise in CPI and the overall market weakness have created a risk-averse sentiment among investors, leading to a decrease in Chewy's stock price. The company's stock is also trading near its all-time low, indicating a negative trend.
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IMPORTANCE 80
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