Should You Buy Chewy Stock While It's Below $20?

Chewy (CHWY -1.77%) stock is available at a huge discount today. At less than $20 per share, its valuation is near an all-time low. Shares peaked at$120 during the pandemic but since then have collapsed by more than 80%.This brutal drop reflects pessimism around the pet supply specialist's sales prospects in a slow-growing industry. Pet adoption rates returned to more normal levels in the post-lockdown period, and that shift means new pricing and demand pressures.The stock could be a good buy, though, for ...