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Why Chewy Stock Gained 12% in February While the Market Crashed

TheMotleyFool

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Why Chewy Stock Gained 12% in February While the Market Crashed

Shares of Chewy (NYSE: CHWY) were demonstrating their resilience last month as the stock rose in spite of the broader sell-off on COVID-19 coronavirus concerns. The online pet products seller benefited from an analyst upgrade and its perception as a safe haven as investors sell stocks that are more at risk from the outbreak.

According to data from S&P Global Market Intelligence, Chewy shares finished February up nearly 12%. As you can see from the chart below, the stock was mostly steady while the rest of the market sank on the coronavirus scare.