Fast Money Blog- 4/2/21
Happy Good Friday!
The best news we saw in the stock market this week was retracement in the broader market. Most notably we saw strong retracement in Chewy, Inc. (CHWY) after they released their spectacular Q4 2020 earnings.
Chewy, Inc. is an American online retailer of pet foods and pet-related products.
On Tuesday, March 30th, Chewy, Inc. posted their Q4 2020 earnings for the period ending on January 31st, 2021.
The company reported top line revenue for the quarter at $2.04 billion, a 51% year-over-year rise. Top-line annual revenue for 2020 was $7.1 billion, a growth of 47% from the previous year.
Chewy Inc. also reported 5.7 million new customers in 2020 and ended the year with 19.2 million in total, a 43% rise year-over-year.
This growth rate can only come from a company that is mastering its digital relationship with its customer base.
On Monday, March 29th, 2021 Chewy shares closed at $78.85 and closed on Thursday, April 1st at $82.71.
In other Wealthy Investor stock news, we also saw strong retracement in shares of Pinterest, Inc. (PINS) which closed on Monday, March 29th, 2021 at $69.38 and on Thursday, April 1t at $77.73.
I expect this next earnings period to deliver outstanding results across the board, which will drive stock prices higher.
As always, stay open, stay positive and stay in discipline!
Tyrone Jackson
The Wealthy Investor