1 Growth Stock Down 18% to Buy Right Now

This year has been a rollercoaster ride for Chewy (NYSE: CHWY). The stock started the year on a downward trajectory after management said that pet industry spending for 2024 would be lower than historical levels. The stock then got a lift in late May when it reported solid first-quarter sales results. Later in the summer, the stock shot higher when Keith Gill, aka Roaring Kitty on the Wallstreetbets message boards of Reddit, posted a photo of a cartoon dog on his X (formerly Twitter) account and then later revealed a large stake in the company. Gill helped spark the meme-stock run from a few years ago, but had been absent on social media the past three years before returning in May of this year.The action in Chewy's stock has left it up over 35% on the year, but down about 18% from its late June 27 intraday high when Gill posted the photo of the cartoon dog. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool