1 Growth Stock Down 68% to Buy Right Now

After years of declines, it may be time for investors to again pay attention to Chewy (NYSE: CHWY) stock. Indeed, investor interest in the pet supply e-retailer appeared to fade amid the post-pandemic downturn that never seemed to end for this company.Finally, its outlook may be changing. Even though it is down 68% from its 2021 peak, the stock has made significant strides amid rising sales growth and increased profits. As customers spend more on the platform, rising popularity and new revenue sources could eventually take Chewy stock back to its long-term highs and beyond.Chewy gained traction with pet owners beginning in the previous decade. While it competed with peers like Amazon and brick-and-mortar retailers on price, Chewy developed a competitive advantage with 24/7 customer service and efforts to personalize the customer experience. Actions such as sending handwritten cards to pet owners or sending flowers upon the passing of a pet helped endear the company to customers.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool