Why Chewy Was a Shaggy Dog of a Stock on Friday
CHWYChewy(CHWY) The Motley Fool·2024-09-21 06:23

A significant shareholding is being unloaded to the public.Many investors were unwilling to take a bite of Chewy (CHWY -4.34%) on the last trading day of the week. The next-generation pet care supplies company saw its stock price erode by more than 4% on news of a large-scale divestment by its largest shareholder. Chewy's decline on the day was far more pronounced than that of the bellwether S&P 500 index, which slid by only 0.2%.A big sale at a discountAfter market close on Thursday, Chewy announced that t ...