- Shares of Chewy Inc soared 63% in their public debut, giving the online pet products retailer a market value of $14.35 billion, more than four times the price PetSmart paid for it in 2017.
The company had set a price range of $19 to $21 per share, which was raised earlier this week from $17 to $19 per share. Jay Ritter, an IPO expert and professor at the University of Florida, however, is skeptical whether Chewy’s valuation allows enough further upside potential for investors. PetSmart, owned by private equity firm BC Partners, bought Chewy in 2017, a deal that added $2 billion to the company’s debt load.
Chewy holds a 45% share of the online dog and cat food market, matching Amazon’s share, according to research firm 1010data.
the world is going to the dogs
If you have a pet and ever shopped chewy dot com, you would never buy this stock.
And distribute food that gives dogs diarrhea, what a business model.
Chew Chew Ch'Boogie
That is insane.
Don’t they buy ad space on Hannity’s show
What a time to be alive. 40% of the country thinks it's OK to lock the children of migrant asylum-seekers in large dog kennels. But no worries, America, because Chewy shares surged 63% in their first day of trading.
the pet market is booming because there is no support for NEW PARENTS