Chewy Inc (NYSE:CHWY) shares are trading lower Thursday after the company announced a public offering by a selling stockholder and a concurrent share repurchase.
Most are familiar with GameStop stock’s meteoric rise by almost 700% in 2021 during the meme stock craze. A massive short squeeze sent the stock price up to more than $480 per share, pre-stock split.
Chewy shares are moving lower in Wednesday's after-hours session after the company announced a public offering by a selling stockholder and a concurrent share repurchase.