Fast Money Blog- 12/10/21

The big news this week was Chewy's earnings release.

On Thursday, December 9th, Chewy, Inc. (CHWY) released their Q3 2021 earnings. The company reported revenue of $2.21 billion, a 24% increase year-over-year. Net sales per active customer were $419, up 15.4% year-over-year.

Chewy also announced that they currently have 20.4 million active customers, up 14.7% year-over-year.

Here’s why Wall Street is not happy with Chewy’s earnings:

Even though Chewy increased their top-line revenue to $2.21 billion, (an 24% increase year-over-year), they also reported a net loss of $32.2 million in its fiscal third quarter. Because of the short fall in fundamentals, Wall Street institutions have little incentive to drive the stock price higher.

I see Chewy staying in a trading range of $50 to $75 per share over the next 52 weeks.

Tyrone Jackson, The Wealthy Investor