What's Going On With Chewy Inc Stock?
Portfolio Pulse from Erica Kollmann
Chewy, Inc. (NYSE:CHWY) stock has declined over 9% in the past five days and is trading lower on heavy volume, with over 6.7 million shares traded versus the 100-day average of 6.801 million. Jim Cramer of CNBC suggested that Chewy is bottoming but faces competition from Amazon (NASDAQ:AMZN). CHWY is a popular stock among short-sellers and retail investors, with 24.34% of its shares sold short. Chewy is scheduled to report Q3 financial results on Dec. 6. The stock is currently down nearly 8% at $18.69.
November 27, 2023 | 5:34 pm
News sentiment analysis
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NEUTRAL IMPACT
Amazon is mentioned as a competitor to Chewy, which may impact Chewy's market performance but has no direct short-term impact on Amazon's stock.
While Amazon is identified as a competitor that could limit Chewy's upside, the article does not provide any specific news or data that would directly impact Amazon's stock in the short term.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 20
NEGATIVE IMPACT
Chewy's stock has seen a significant decline, with heavy trading volume and high short interest. The upcoming Q3 financial results could be a pivotal moment for the stock.
The decline in Chewy's stock price, coupled with high short interest and heavy trading volume, indicates negative market sentiment. The upcoming earnings report could either exacerbate this trend if results are poor, or potentially reverse it if they exceed expectations.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100