Why Is Everyone Talking About Chewy Stock?
The demise of Chewy (NYSE: CHWY) at the hands of Amazon (NASDAQ: AMZN) was prophesied long ago. Consider this 2019 headline from Business Insider: "Fresh off its IPO, Chewy might be the next company to get crushed by Amazon."
I'm singling out this headline because it clearly communicates prevalent investor sentiment regarding Chewy at the time of its initial public offering in 2019. Some might even still feel that way. But sales are up 46% year over year through the first three quarters of 2020, so it's clearly resonating with consumers. And the stock has been awesome: up almost four times from its IPO price.
Here's why everyone's talking about Chewy stock, the niche e-commerce player thriving in Amazon's shadow.
Source Fool.com
