Chewy stock surged 28% in June due to speculation of GameStop buying shares

From Nasdaq.: 2024-07-03 04:15:00

In June, Chewy’s stock soared 28.4%, fueled by speculation that GameStop was buying shares under former Chewy CEO Cohen’s direction. Majority shareholder BC Partners sold $500 million worth of stock back to Chewy. In July, investor Keith Gill disclosed a 6.6% stake in Chewy. Despite the trading frenzy, Chewy’s long-term performance is what matters. The company is investing in ancillary services and share repurchases. To succeed beyond short-term gains, Chewy needs to attract more customers. Investors can capitalize on potential opportunities by being alert to upcoming “Double Down” stock recommendations.



Read more at Nasdaq.: Why Chewy Stock Jumped 28% Last Month