Why Chewy's Stock Is Trading Lower Today

Chewy CHWY shares are trading lower on Thursday after the company priced its 5.1 million shares common stock offering at $55.25 per share.

Chewy is an online destination for pet parents selling pet food and treats, pet supplies and pet medications, other pet-health products, and pet services. The company through its website and mobile applications, offers Dry Food, Wet Food, Prescription Food, Human Grade, Food Toppings, and Frozen Food among others.

Chewy shares were down 3.55% at $54.11 at the time of publication on Thursday. The stock has a 52-week high of $74.84 and a 52-week low of $20.62.