Chewy's Profitability Worries, Market Volatility

Chewys shares dropped by 3.1% as investors focus on profitability, not just customer growth. The company has missed profit expectations in recent quarters and gross profit margins have been under scrutiny. The broader market was volatile, with the Dow and Nasdaq initially rising but later falling due to a strong jobs report reducing chances of an interest rate cut. Investors are becoming more cautious about high valuations in a higher interest rate environment, moving money away from volatile growth sectors like tech and towards more stable companies like Walmart. Chewys stock is currently flat for the year and trading at $33.63 per share, a significant drop from its 52-week high.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.