This week the stock market closed with mixed results. This is totally normal on the week ending September 11th, as our market joins the country remembering those who perished 19 years ago today.
The bright spot in the week was Chewy, Inc. who on Thursday, September 10th, reported strong Q2 2020 earnings. The company reported top-line revenue of $1.7 billion for the quarter, up 47.4% on a year-over-year basis.
The key revenue driver in the quarter was a 37.9% year-over-year increase in active customers.
I strongly recommend Chewy as a growth stock to trade over the next 13 weeks.
Remember in this market your goal is to keep at least 30% of your investing funds in Dow components.
I believe the next 30 days in the stock market will have extreme periods of volatility.
Stay smart. Stay disciplined.
Tyrone Jackson, The Wealthy Investor
