Chewy: A Sell Heading Into Q3 Earnings (Downgrade) (NYSE:CHWY)

Company Overview - Chewy (CHWY) was a significant beneficiary during the pandemic but has seen its stock price decline nearly 75% from its peak of around $120, now trading in the low $30s [1] Market Context - The current market environment is characterized by fears of a bubble, impacting investor sentiment and stock performance [1] Investment Philosophy - The focus is on long-term investment in U.S. and European equities, emphasizing undervalued growth stocks and high-quality dividend growers [1] - Sustained profitability, indicated by strong margins, stable and expanding free cash flow, and high returns on invested capital, is viewed as a more reliable driver of returns than valuation alone [1] Personal Investment Strategy - The investment approach is informed by a diverse academic background, enhancing both quantitative analysis and market narrative interpretation [1] - The goal of investment is to ensure financial freedom to pursue desired work and life choices, rather than to escape work altogether [1]