Should You Invest in Chewy for 2022?
Online pet retailer Chewy (NYSE: CHWY) had a challenging year in 2021. The company thrived at the pandemic's onset in 2020 when millions of folks were looking to avoid shopping in brick-and-mortar stores and turned to Chewy.com for their pets' needs.
However, as the economic reopening and vaccination campaign against COVID-19 gained momentum, customer acquisition growth slowed at Chewy. As a result, its stock price fell 34% in 2021. But as the saying goes, past performance is not always indicative of future results. So let's look at Chewy's business to determine if 2022 could be a better year for its investors.
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Source Fool.com