11/22

Chewy Drops 2.26% After Hours on Weak Sales Report and Insider Selling

Chewy, Inc. (CHWY) shares fell 2.26% to $34.10 in after-hours trading, following a close at $34.89 on November 22, 2024. The after-hours decline comes amid continued concerns over Chewy's sales performance, as highlighted by Cleveland Research's report earlier in the day, which indicated that October sales were worse than expected. This has added to the negative sentiment surrounding the stock, which has been under pressure due to broader market challenges in the pet accessories sector. Additionally, a recent Form 4 filing revealed a $40 million sale of Class B to Class A shares, following a significant $660 million sale by Argos Holdings last week, further contributing to the downward pressure on the stock.