Why Chewy Stock Got Mashed in May

There were some tasty treats for investors to enjoy on the stock market last month, but pet goods specialist Chewy (NYSE: CHWY) wasn't one of them. Cautious remarks from company CEO Sumit Singh, combined with a set of analyst price target cuts, drained investor enthusiasm for the company's equity. It exited May down by more than 11%.In mid-month, Singh gave a fireside chat about Chewy's business at the J.P. Morgan 54th Annual Global Technology, Media, and Communications Conference. While he pointed out numerous positives underlying the company's business -- such as its estimated total addressable market of roughly $160 billion -- he added that consumers were feeling the pressure of a challenged economy.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool