Chewy: Buy, Sell, Or Hold?
The stock market has climbed over the past year -- and confirmed its presence in bull territory recently when the S&P 500 reached a new high. Growth stocks have led these gains, as environments of expansion and optimism generally support these sorts of players. Still, some promising growth stocks have missed out on the momentum so far.
One glaring example is Chewy (NYSE: CHWY), an e-commerce site for everything your pet needs -- from food and toys to health insurance. Chewy reached the key milestone of profitability in 2022, and last year, in spite of a difficult economic environment, continued to grow revenue and keep customers coming back. The company even launched important growth projects. Still, the stock hasn't followed, falling 55% over the past year.
Considering these points, is Chewy a stock to buy, sell, or hold? Let's dig deeper and find out.
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