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Petco's Stock Price Is Down, Should Investors Buy the Dip?

TheMotleyFool

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Petco's Stock Price Is Down, Should Investors Buy the Dip?

After a rough first half of 2020, initial public offerings (IPOs) came back with a vengeance in the back half of 2020 and into early 2021. The pet store chain Petco Health and Wellness (NASDAQ: WOOF) benefitted from this insatiable appetite for IPOs when it opted to go public (again) in January.

However, after a brisk debut, Petco's stock price has tumbled and is now trading more than 26% below where it traded on its opening day. Should investors view Petco's stock price decline after its IPO as a warning sign or a buying opportunity?