Chewy Stock Seesaws as Pet Ownership Outlook Overshadows Results—Price Levels to Watch

Key TakeawaysChewy shares moved lower in premarket trading Thursday after the e-tailer's pet ownership outlook overshadowed its better-than-expected quarterly results.The company cautioned that it sees the pet industry growing at a slower-than-average pace this year due to pet household formation trends, before normalizing in 2025.Chewy said it expects to deliver continued adjusted EBITDA margin expansion and gain market share this year, regardless of the industry or macroeconomic conditions.A reversal in C ...