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CHWY
Benzinga
1 min

Nasdaq Surges Over 100 Points; Chewy Shares Fall After Q2 Results

1. CHWY's stock dropped 14% after Q2 results release. 2. Adjusted earnings were 33 cents per share, beating estimates of 14 cents. 3. Sales also surpassed expectations, hitting $3.104 billion. 4. Consumer discretionary sector fell by 0.8% on the same day. 5. Mixed market performance with Nasdaq gaining over 100 points.

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FAQ

Why Bearish?

Despite beating earnings estimates, a 14% drop indicates investor disappointment, reminiscent of past stock reactions to earnings beats that failed to align with broader market sentiments.

How important is it?

The significant price drop denotes investor concern over future performance despite the earnings beat.

Why Short Term?

The immediate market reaction occurred following Q2 earnings; however, the long-term outlook remains influenced by sustained growth and strategic initiatives.

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