Why Chewy Stock Is Sinking Today
Chewy's fiscal Q2 report looked solid, but the stock is still selling off.
Overview
Chewy (NYSE: CHWY) stock is falling today on the heels of the company's latest quarterly report. The pet products e-commerce specialist's share price was down 7.7% as of 11 a.m. ET. The S&P 500 was down 0.3% at the same point in the daily session, and the Nasdaq Composite was down 0.5%.
The broader market is seeing moderate bearish momentum today as investors react to macroeconomic concerns, and Chewy's latest quarterly report has also failed to spur net buying action. As of this writing, the stock is now down roughly 35% year to date.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.