Chewy shares are trading lower after the company reported mixed Q3 financial results and cut FY23 net sales guidance.
Portfolio Pulse from Benzinga Newsdesk
Chewy's stock is trading lower following the release of their mixed Q3 financial results and a reduction in their full-year 2023 net sales forecast.
December 07, 2023 | 1:27 pm
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NEGATIVE IMPACT
Chewy's stock price is expected to face downward pressure in the short term due to mixed Q3 results and lowered net sales guidance for FY23.
The stock is trading lower as investors typically react negatively to financial results that do not meet expectations, coupled with a cut in future sales guidance, which can be seen as a sign of potential challenges ahead for the company.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100