The events of January 2021 and the unlikely rise of GameStop inspired a new wave of meme investing off the back of a strong post-pandemic recovery on Wall Street that saw more retail investors coordinate to inflate the value of their favorite stocks based solely on sentiment. But what's so significant about Gill's return in 2024? Crucially, markets have embarked on a new wave of optimism that hasn't been seen since the time of the last meme stock rally in 2021. With expectations of Federal Reserve rate cuts ...

Chewy maintains its fiscal 2024 net sales outlook in the band of $11.6 billion-$11.8 billion, projecting 4% to 6% year-over-year growth. Additionally, the company has raised its adjusted EBITDA margin guidance to a range of 4.1%-4.3%, demonstrating robust profitability expectations. Reflecting the positive sentiment around Chewy, the Zacks Consensus Estimate for earnings per share has seen upward revisions. Over the past 60 days, analysts have increased their estimates for both the current and next fiscal y ...

Chewy (NYSE:CHWY) has recently become what some would consider to be a meme stock. On June 24, influential investor Keith Gill, also known as Roaring Kitty, disclosed the purchase of 9 million shares, valued at roughly $245 million. This sent investors flooding into the stock, artificially inflating its share price. However, shares have returned to their previous level before the news was reported due to its overall volatility. Below, these pet stocks have seen share price growth this past year, while Chewy ...

Chewy (CHWY) could be a solid addition to your portfolio given a notable revision in the company's earnings estimates. While the stock has been gaining lately, the trend might continue since its earnings outlook is still improving. The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008. For the curr ...

In this podcast, Motley Fool analyst Asit Sharma and host Ricky Mulvey discuss Chewy becoming a meme stock, Cedar Fair and Six Flags merging into one company, and headlines from five years in the future. Asit Sharma: I'm going to pretend I just got on and saw you for the first time. Great to see you, Ricky. Asit Sharma: I think what I'm going to say here is obvious, Ricky, that shareholders should prepare for a little more volatility than normal, but Chewy's been a volatile stock. The company is profitable. ...

While fans of GameStop (NYSE:GME) may be reeling from the recent lawsuit against Keith Gill, better known as Roaring Kitty, it turns out Chewy (NYSE:CHWY) executives may be the real victims here. Indeed, on Monday, Gill showed off a surprise 6.6% stake in Chewy, sending CHWY stock plummeting in the process. CHWY stock is down almost 17% since Monday as investors brace for potential volatility following Gill's reveal. While Gill's interest in the pet food retailer certainly comes as a surprise, it's not comp ...

For example, a 16-pound bag of my cats' favorite dry food costs a few dollars less at Chewy than it does at Walmart if I get it automatically shipped. Auto-ship orders make up 77.6% of Chewy's net sales, and they're extra sticky because members with auto-ship orders are eligible for free chats with licensed veterinarians. A reason to sell Chewy stock Negotiating power that comes with a large customer base is an important advantage, but it isn't a very strong one. Amazon keeps its Prime membership numbers un ...

Unlike GameStop, Gill hasn't shared his investment thesis for Chewy. Last month, he hinted at his investment by posting an image of a cartoon dog with its tongue hanging out. Tracking institutional ownership is important, as these large investors provide liquidity and support for stocks. During Q1, 348 13F filers disclosed a stake in CHWY, a decline of 21 filers, or 5.69%, compared to the previous quarter. In total, these filers own 100.65 million shares, down by 1.32%. On the date of publication, the respo ...

Chewy shares were volatile on Monday after famed meme stock trader "Roaring Kitty," also known as Keith Gill, bought a 6.6% stake in the company. Gill bought just over 9 million shares of the online pet retail site founded by GameStop CEO Ryan Cohen, according to a filing with the U.S. Securities and Exchange Commission. The stake is valued at over $230 million. Ticker Security Last Change Change % CHWY CHEWY INC. 25.72 -1.52 -5.58% Cohen sold Chewy to the owners of PetSmart in 2017 for $3.35 billion. At th ...

Chewy (NYSE:CHWY) stock is in the spotlight after Roaring Kitty, whose real name is Keith Gill, revealed a 6.6% stake in the pet supplies e-commerce company through a 13G filing. Equivalent to 9.001 million shares, Gill's stake is accurate as of June 24. He disclosed the position this morning. Gill had previously hinted at his investment in CHWY stock, posting a picture of a cartoon dog on June 27: Meanwhile, others are wondering whether Gill sold out of his GameStop (NYSE:GME) stake in order to fund his Ch ...