Why Chewy Shares Rocketed Higher Today
CHWYChewy(CHWY) fool.com·2024-05-30 01:03

The beaten-down pet supply e-commerce platform exceeded low expectations. But is it really a sign of a turnaround? Shares of pet supply e-commerce platform Chewy (CHWY 28.86%) were rising on Wednesday, trading up 27% as of 11 a.m. ET. The company reported earnings this morning that came in well ahead of expectations, while also announcing a new share repurchase program. Investors liked what they heard, sending shares rocketing higher. But they also might want to be cautious about further gains from here. A ...