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Chewy Stock Jumps 10.6% on New Meme Status and Promptly Loses It
CHWYChewy(CHWY) The Motley Fool·2024-06-28 19:27

Memes aren't what they used to be Chewy was a meme stock for a moment. The meme begins During the pandemic, there were huge moves in companies caught up in meme trades. There were short squeezes and massive option positions built and unwound by both retail investors and hedge funds. But the magic of meme mania hasn't had any staying power in the current market. Shares jumped as much as 10.6% mostly on Thursday, according to data provided by S&P Global Market Intelligence, but gave back most of those gains. ...