Why Chewy Stock Was Sliding Today
Shares of Chewy (NYSE: CHWY), the online pet products retailer, were moving lower today. While there was no company-specific news out on Chewy, the stock seemed to fall in sympathy with rival Petco (NASDAQ: WOOF), which posted disappointing results in its first-quarter earnings report this morning. As of 12:12 p.m. ET, Chewy stock was down 3.7% after falling as much as 5.8% earlier in the session.