Chewy shares are trading lower after the company issued Q1 net sales guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
Chewy's stock is trading lower following the company's announcement of Q1 net sales guidance that fell short of expectations.
March 21, 2024 | 1:16 pm
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Chewy's shares are trading lower due to the company providing Q1 net sales guidance that did not meet analysts' estimates.
When a company announces sales guidance that is below market expectations, it often leads to a decrease in stock price in the short term. This is because investors may adjust their expectations for future profitability downwards, leading to a sell-off.
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