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Is Chewy Stock a Contrarian Buy?

TheMotleyFool

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Is Chewy Stock a Contrarian Buy?Photo, wide shot, wide-angle lens, Clothing manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Marc Adamus: https://img.midjourneyapi.xyz/temp/7d69264d-49b2-466c-9987-b2706836d522.png

Chewy (NYSE: CHWY), a native to the online pet retailer space, is under heavy pressure today. Specifically, the e-commerce company's shares fell by as much as 6.51% in pre-market trading Thursday morning.

What's weighing on Chewy's stock? After the closing bell Wednesday, Chewy reported fiscal fourth-quarter and full-year 2022 financial results. Although the e-commerce company posted an impressive 13.4% increase in year-over-year net sales to $2.71 billion, investors appear to be concerned about two key issues in yesterday's earnings release:

Should investors buy Chewy stock on this dip? Let's dig deeper to find out.

Source Fool.com

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