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Chewy Inc ($CHWY) Stock Forecast: Down 5.8% Today

Morpher AI identified a bearish signal. The stock price may continue to fall based on the momentum of the negative news.

What is Chewy Inc?

Chewy Inc. (CHWY) is a leading online retailer of pet food and supplies, catering to the growing trend of pet owners purchasing products online for convenience and variety. The stock had a bearish movement today in the market.

Why is Chewy Inc going down?

CHWY stock is down 5.8% on Jul 19, 2024 13:47

  • Unusual options activity indicating a bearish stance on Chewy may have contributed to the stock's downward movement as investors with significant capital took a negative position on the company.
  • A cryptic message posted by Chewy's founder, Ryan Cohen, on Elon Musk's social media platform may have added uncertainty and speculation around the stock, potentially impacting investor sentiment negatively.
  • The overall caution towards meme stocks, as highlighted by the warning to sell meme stocks before they crash and burn, could have spilled over to Chewy, leading to a sell-off as investors reevaluate their risk exposure in such volatile stocks.

CHWY Price Chart

CHWY News

Looking At Chewy's Recent Unusual Options Activity - Chewy ( NYSE:CHWY )

Investors with a lot of money to spend have taken a bearish stance on Chewy CHWY. We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga. Whether these are institutions or just wealthy individuals, we don't know.

https://www.benzinga.com/insights/options/24/07/39841305/looking-at-chewys-recent-unusual-options-activity

News Article Image Looking At Chewy's Recent Unusual Options Activity - Chewy  ( NYSE:CHWY )

Roaring Kitty vs. Risks: Why Investors Should Avoid GameStop Stock Now

GameStop (NYSE:GME) seems to be keeping its meme stock status standing. Indeed, with Keith Gill’s influence, this stock has seen incredible surges in recent years. However, investors now appear to be proceeding with caution regarding GameStop stock right now. Gill’s return led to renewed retail interest, but the lack of positive news caused a sharp sell-off in GameStop stock. Many questions remain about the stock’s future direction. GameStop stock is likely to continue falling. Let’s dive into why that may be the case.

https://investorplace.com/2024/07/roaring-kitty-vs-risks-why-investors-should-avoid-gamestop-stock-now/

News Article Image Roaring Kitty vs. Risks: Why Investors Should Avoid GameStop Stock Now

Chewy Founder, GameStop CEO Ryan Cohen Posts 'TRUMP' 665 Times On Elon Musk's X: Cryptic Message Has Internet Guessing - Chewy ( NYSE:CHWY ) , GameStop ( NYSE:GME )

Chewy Inc. CHWY founder Ryan Cohen has sparked speculation after posting the word "TRUMP" 665 times on Elon Musk's social media platform, X. What Happened: Cohen's cryptic message has left the internet abuzz with theories about its meaning.

https://www.benzinga.com/markets/equities/24/07/39831371/chewy-founder-gamestop-ceo-ryan-cohen-posts-trump-665-times-on-elon-musks-x-cryptic-message-has-

News Article Image Chewy Founder, GameStop CEO Ryan Cohen Posts 'TRUMP' 665 Times On Elon Musk's X: Cryptic Message Has Internet Guessing - Chewy  ( NYSE:CHWY ) , GameStop  ( NYSE:GME )

Is Abercrombie & Fitch ( ANF ) Outperforming Other Retail-Wholesale Stocks This Year?

Here is how Abercrombie & Fitch (ANF) and Chewy (CHWY) have performed compared to their sector so far this year.

https://www.zacks.com/stock/news/2303353/is-abercrombie-fitch-anf-outperforming-other-retail-wholesale-stocks-this-year

News Article Image Is Abercrombie & Fitch  ( ANF )  Outperforming Other Retail-Wholesale Stocks This Year?

3 Meme Stocks to Sell in July Before They Crash & Burn

When it comes to meme stock news as of late, Keith Gill has certainly been the driver of most investor attention to this space. Various meme stocks have surged on Roaring Kitty’s involvement in simply noting his trades. Much of this sentiment makes sense when one harkens back to the price action of 2021 and the incredible meme mania we saw then. That said, many top meme stocks have since lost their luster and momentum, falling once again on strong short-seller interest. The question is whether retail investors have enough juice to support the top meme stocks and propel them higher, particularly as many of the management teams behind these beaten-down businesses look for reasons to sell shares into any strength to raise capital. Let’s dive into the top three meme stocks that could be poised to crash and burn if this trend continues.

https://investorplace.com/2024/07/3-meme-stocks-to-sell-in-july-before-they-crash-burn/

News Article Image 3 Meme Stocks to Sell in July Before They Crash & Burn

Chewy Inc Price History

19.06.2024 - CHWY Stock was down 5.8%

  • Unusual options activity indicating a bearish stance on Chewy may have contributed to the stock's downward movement as investors with significant capital took a negative position on the company.
  • A cryptic message posted by Chewy's founder, Ryan Cohen, on Elon Musk's social media platform may have added uncertainty and speculation around the stock, potentially impacting investor sentiment negatively.
  • The overall caution towards meme stocks, as highlighted by the warning to sell meme stocks before they crash and burn, could have spilled over to Chewy, leading to a sell-off as investors reevaluate their risk exposure in such volatile stocks.

16.06.2024 - CHWY Stock was up 5.8%

  • Chewy (CHWY) closed at $26.53 today, marking a +0.23% increase from the previous day.
  • Wall Street analysts are optimistic about Chewy, with an average brokerage recommendation favoring a Buy rating.
  • Ryan Cohen, the founder of Chewy, is recognized for identifying significant trends in pet supplies, potentially influencing the stock's positive performance.
  • Despite trailing behind the broader market, Chewy's potential in the pet industry and favorable market outlooks may be propelling the stock's upward trend.

16.06.2024 - CHWY Stock was up 5.0%

  • Despite concerns about meme stocks, CHWY experienced a strong bullish movement.
  • Ryan Cohen, the mastermind behind Chewy, anticipated massive trends in pet supplies, which could have contributed to the positive market sentiment.
  • The upcoming Amazon Prime Day event could also be a factor in boosting CHWY's stock, as rivals like Chewy are expected to benefit from increased consumer spending during the event.
  • The positive movement in CHWY's stock may be a reflection of investors' confidence in the company's ability to capitalize on the growing pet supplies market, despite the overall skepticism surrounding meme stocks.

10.06.2024 - CHWY Stock was up 5.2%

  • Today, Chewy's stock experienced a surge, reflecting the optimism among investors regarding the company's growth trajectory.
  • The bullish momentum in CHWY could be attributed to positive perceptions of the company's financial health and its competitive positioning within the pet products sector.
  • The uptick in Chewy's stock price might also be influenced by the broader market trend that favors meme stocks, a sentiment echoed by notable investors such as Bill Gross and Larry Cheng.
  • Amid the spotlight on meme stocks like GameStop (GME) and Tesla (TSLA), the market's positive outlook towards innovative, high-growth companies like Chewy appears to be propelling today's bullish movement in CHWY.

10.06.2024 - CHWY Stock was up 5.9%

  • Chewy has seen a remarkable 24% increase in its stock value over the last six months, buoyed by strong financial performance and optimistic investor outlook.
  • The recent purchase of GameStop (GME) stock by Director Larry Cheng, an early supporter of Chewy, might have indirectly impacted Chewy's market performance positively.
  • The resurgence of meme stock investment, exemplified by the return of popular investor Keith Gill (Roaring Kitty), is fostering a renewed sense of confidence in the market, potentially benefiting stocks like Chewy.
  • Despite challenges and falling stock prices for GameStop (GME), the renewed interest in meme stock trading and the link to Chewy via Larry Cheng's investments likely played a role in Chewy's market activity today.

02.06.2024 - CHWY Stock was down 5.0%

  • CHWY stock experienced a sharp decline of almost 17% following the disclosure of a 6.6% stake in the company by Keith Gill, also known as Roaring Kitty, a prominent figure in the meme stock trading community.
  • The revelation of Gill's investment in Chewy raised concerns among the company's executives about potential volatility and the impact of retail investors influenced by Gill's actions.
  • Despite the market reaction to Gill's stake in Chewy, some analysts maintain an "Outperform" rating on the stock, emphasizing the company's long-term cash flow prospects.
  • The intertwining narratives of meme stock trading, retail investor influence, and unexpected investments have added a layer of unpredictability to Chewy's stock performance, reflecting the evolving landscape of market dynamics influenced by social media and individual investors.

02.06.2024 - CHWY Stock was down 15.6%

  • An "Outperform" rating on Chewy stock is upheld by William Blair, emphasizing long-term cash flow positivity for the company's future.
  • Caution is advised on Chewy stock by Oppenheimer, recommending investors to refrain from hasty purchases possibly influencing the current bearish movement.
  • Scrutiny from Citron Research is placed on Roaring Kitty's $200 million investment in Chewy, potentially raising doubts on the stock's performance and contributing to negative sentiment.
  • The comparison of GameStop's business model to gambling underscores the risks related to certain meme stocks, possibly deterring investors from engaging in volatile investments akin to Chewy.

01.06.2024 - CHWY Stock was down 10.4%

  • Chewy's stock dipped by 5% during the day's trading session.
  • The market movement was linked to an announcement regarding a 6.6% investment stake in Chewy by a notable investor known as Roaring Kitty.
  • The disclosure led to initial excitement but was later followed by a sell-off.
  • Investors seemed to react to the absence of a clear investment strategy provided for Chewy by Roaring Kitty, contrasting with his previous actions in GameStop.
  • This event showcases the significant influence influential investors can have on market dynamics and emphasizes the importance of transparent communication in investment choices.

01.06.2024 - CHWY Stock was down 9.5%

  • Chewy's shares initially rose following the disclosure of the 'Roaring Kitty' meme trader's 6.6% stake but later declined significantly, indicating a turbulent day of trading for the stock.
  • The fluctuation in Chewy's stock price could be linked to market uncertainty surrounding the revelation of a $245 million stake by Roaring Kitty, prompting profit-taking activities.
  • The focus on Chewy stemming from the meme trader's involvement may have fueled speculative trading, contributing to the stock's volatile movements during the trading day.
  • Overall, the convergence of meme trader influence, stake disclosure, and market volatility likely had a significant impact on Chewy's bearish performance today.

01.06.2024 - CHWY Stock was down 7.9%

  • Chewy (CHWY) initially surged over 26% in pre-market trading after Keith Gill, also known as Roaring Kitty, disclosed a significant position in the company. However, the stock quickly retreated and ended the day down by 6%.
  • The labeling of Chewy as a meme stock by Wall Street analysts might have contributed to the heightened volatility and subsequent decline in the stock price.
  • The overall market sentiment towards meme stocks and the impact of such classifications on investor behavior could have led to the bearish movement in Chewy's stock today.
  • Despite the initial excitement surrounding Chewy's stock, the fluctuating nature of meme stocks and the broader market conditions likely influenced the downward trend experienced by the company throughout the trading day.

01.06.2024 - CHWY Stock was down 10.4%

  • Chewy's stock initially surged over 26% in the pre-market session after a significant stake in the company was disclosed, but later dropped by 6% during the trading day.
  • The revelation of the stake led to initial excitement among investors, but the stock ultimately fell as profit-taking and market dynamics came into play.
  • Speculation arose regarding whether the investor sold his GameStop stake to fund his investment in Chewy, adding an interesting twist to the market movement.
  • Despite the initial surge and subsequent fall, Chewy's stock movement today was influenced by the interplay of investor sentiment, profit-taking, and market speculation surrounding the investment decisions.

01.06.2024 - CHWY Stock was down 10.5%

  • Following the disclosure of a 6.6% stake held by a prominent meme trader known as 'Roaring Kitty', Chewy's stock experienced a strong bearish movement today.
  • The initial boost in Chewy's stock price triggered by the revelation of the stake by the meme stock influencer appears to have been short-lived.
  • Profit-taking by investors after the initial price surge likely led to a sell-off, generating a subsequent bearish trend in the stock.
  • Speculative trading activities and the influence of social media personalities seem to significantly impact the market sentiment surrounding Chewy, contributing to its overall volatility.

01.06.2024 - CHWY Stock was down 10.9%

  • Chewy shares initially surged by 10% after the disclosure of "Roaring Kitty" (Keith Gill) acquiring a 6.6% stake in the company.
  • However, the market sentiment quickly turned bearish, leading to a fall in Chewy shares.
  • The initial excitement from the stake acquisition might have been overshadowed by profit-taking activities or concerns about the sustainability of the price surge.
  • The volatile nature of meme stock influencers and their impact on individual stock movements could have contributed to the sudden shift in Chewy's share price.
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Disclaimer
Morpher is not liable for the content of the AI investment insights. Like most GPT-powered tools, these summaries may contain AI hallucinations and inaccurate information. Morpher is not presenting you with any investment advice. All investments involve risk, and the past performance of a security, industry, sector, market, or financial product does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. These summaries do not constitute investment advice.