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Why Chewy Stock Jumped 28% Last Month

TheMotleyFool 
0 0 03.07.24
Why Chewy Stock Jumped 28% Last MonthPhoto, wide shot, wide-angle lens, Online marketplace, sunset photo at golden hour, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/27d484d8-d1b1-4519-9797-b5dcaa68d4e2.png
 

Shares of pet e-commerce company (NYSE: CHWY) jumped 28.4% in June, according to data provided by S&P Global Market Intelligence. It was an unusual month with trading fueled by ongoing speculation over who was buying and who was selling.

For example, Chewy stock spiked in mid-June on rumors that Ryan Cohen was buying shares on behalf of GameStop. Cohen founded Chewy but left the company in 2018. During the pandemic, he became an activist investor in GameStop and eventually took on the role CEO. And as CEO, he plans to invest GameStop's cash in other publicly-traded companies.

On June 20, Gordon Haskett analyst Don Bilson noted that recent gains for Chewy stock were being driven by speculation that GameStop was buying shares of Chewy under Cohen's direction, according to The Fly.

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Source Fool.com

Chewy Inc Stock

€19.98
-1.820%
We can see a decrease in the price for Chewy Inc. Compared to yesterday it has lost -€0.370 (-1.820%).
With 50 Buy predictions and not a single Sell prediction Chewy Inc is an absolute favorite of our community.
As a result the target price of 36 € shows a very positive potential of 80.18% compared to the current price of 19.98 € for Chewy Inc.
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