Why Chewy Stock Was Gaining Today

Group 1 - Chewy will be added to the S&P MidCap 400, replacing Stericycle, which is being acquired by Waste Management [2] - The inclusion in the index is expected to boost Chewy's stock as ETFs tracking the S&P MidCap 400 will buy its shares [2] - S&P Global's decision reflects confidence in Chewy's financial viability and overall business performance [3] Group 2 - Chewy's revenue growth has slowed, with a 2.6% increase in Q2 to $2.86 billion, although profits improved due to cost control [4] - The pet products industry is showing signs of recovery after a post-pandemic slump, indicating potential for Chewy's growth [5] - Inclusion in the mid-cap index positions Chewy closer to potentially joining the S&P 500, contingent on significant growth [4]