Get 40% Off
💰 Warren Buffett reveals a $6.72 billion stake in ChubbCopy Portfolios

PetSmart’s Chewy Soars More Than 80% After IPO

Published 06/14/2019, 11:18 AM
Updated 06/14/2019, 11:29 AM
© Reuters.
CHWY
-

Investing.com - Online pet product retailer Chewy soared 80% in midday trade Friday after it made its debut on Wall Street.

Shares of the PetSmart-owned company opened at $36, with a market capitalization of $14.3 billion.

Chewy (NYSE:CHWY) stock surged 82.2% to $40.22 as of 11:18 AM ET (15:18 GMT).

The retailer had priced its IPO at $22 a share, which was above the $19 to $21 price range.

Chewy reported a net loss of $268 million in fiscal 2018.

PetSmart owns 70% of the company’s common stock and holds 77% of the voting power. It acquired the company in 2017 for $3 billion.

Latest comments

They are heading back up there again to when they first opened up. Looks like they may go above that they hit at 40 a share in about a month from now.
It is now confirmed we are at or near the top.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.