Chewy Stock Hits A New All-Time Low: What's Going On?
Portfolio Pulse from Henry Khederian
Chewy Inc (NYSE:CHWY) shares dropped 5.8% to $15.66 after issuing Q1 net sales guidance below estimates, despite reporting positive Q4 earnings growth. The company's net sales for the fiscal year increased by 10.2% year-over-year. Chewy's stock has declined by 55.16% over the past year, with a 52-week high of $40.78 and a low of $15.23.
March 25, 2024 | 5:07 pm
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NEGATIVE IMPACT
Chewy Inc's stock fell 5.8% to $15.66 following lower than expected Q1 net sales guidance, despite a positive Q4 earnings report and a 10.2% increase in yearly sales.
The immediate negative reaction in Chewy's stock price is primarily due to the company's Q1 net sales guidance falling below market expectations, overshadowing its positive Q4 earnings growth and annual sales increase. This suggests a short-term bearish outlook for the stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100