Why Chewy Shares Rocketed Higher Today

The beaten-down pet supply e-commerce platform exceeded low expectations. But is it really a sign of a turnaround? Shares of pet supply e-commerce platform Chewy (CHWY 28.86%) were rising on Wednesday, trading up 27% as of 11 a.m. ET. Also important in these times of higher interest rates, Chewy achieved positive profitability, with its adjusted margin under earnings before interest, taxes, depreciation, and amortization (EBITDA) expanding to 5.7% from 4% in the year-ago quarter. Lastly, the board authorize ...