Valued at $14.5 billion by market cap, Florida-based Chewy Inc. (CHWY) is an online seller of pet food and supplies, including dry and wet food, toys, supplements, vitamins, jerky treats, and more. The company's popularity peaked during the stay-at-home days of the pandemic, with CHWY stock reaching all-time highs north of $100 per share by early 2021.
However, the stock has tumbled more than 70% off that peak, as Chewy's user base - despite being fiercely loyal - has remained relatively stagnant since that COVID-related surge. That has raised concerns about CHWY's future growth trajectory, as well as the stock's valuation.
