Should You Buy Chewy Stock Right Now?
Chewy (NYSE: CHWY) has become a go-to online destination for pet owners to shop for food and other supplies. The company's increasing scale has even allowed it to expand into pet healthcare. It's an attractive industry to invest in with the pet market historically growing around 5% per year and estimated to be worth $98 billion in 2020.
After more than tripling last year, Chewy's share price is down 12% year to date as of this writing. The company just reported fiscal second-quarter results that showed a wider loss on the bottom line than analysts expected.
Though shares shed 9% the day after the earnings announcement, it may not be the bottom-line miss that's causing the stock's decline. Let's review how Chewy's business has performed recently, its growth opportunities, and whether the stock is worth buying at its current valuation level.
Source Fool.com
