By Kuldip K. Ambastha
On Thursday, June 2, 2022, the stock price of Chewy, Inc. (CHWY) rose by +24.2% per share. (See past coverage if needed: “What Caught Our Attention in the Investment World? – Week of March 29-April 1, 2021; By Kuldip K. Ambastha.”) Chewy, Inc. (CHWY), an online retailer of pet food and other pet-related items, delivered surprising results to Wall Street on this trading day. In 1Q2022, the company had earnings of 4 cents per share alongside revenues of $2.43 billion, with both of these measures beating their respective forecasted consensus estimates. In a highly volatile stock market environment, this surprise on the upside was welcome news.
Disclosure – The principals and clients of Ambastha Financial LLC have no positions in CHWY.
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