Why Chewy Jumped 26% in November
Shares of Chewy (NYSE: CHWY) jumped 25.9% in November, according to data from S&P Global Market Intelligence. That move sent the stock of the online retailer of pet food and supplies from $62 per share to $78 during the month.
For context, Chewy shares began the year at $29 and have soared 167.5% for the year through November.
During November, Chewy announced it expanded its pet pharmacy business by launching compounded medications for pets. This provides pet owners with "the ability to order customized, pharmaceutical grade, prescription medications that meet their pets' unique needs, that cannot be fulfilled by commercially available alternatives."
Source Fool.com
