(NYSE: CHWY) has carved out a niche for itself in the online pet product market. The company's stock price, which currently hovers around $18, down from earlier highs of nearly $53, has many questioning whether Chewy remains a smart investment.

To truly gauge the potential of Chewy's stock, one must not only scrutinize its financials but also understand the broader dynamics of the pet industry to determine if it's the right time to buy, sell, or hold shares.

Chewy's recent quarterly financial performance seems to show a company on the rise. A 14.3% year-over-year growth in net sales, culminating in a whopping $2.78 billion, represents no small feat. This growth trajectory indicates that Chewy continues rapidly becoming a preferred choice for pet owners.

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Source Fool.com