This Ryan Cohen-Linked Stock Is Seeing The Highest Interest On WallstreetBets Today

Online pet retailer Chewy Inc. CHWY has emerged as the most-discussed stock on Reddit’s r/WallStreetBets forum as of early Monday.

What Happened: Exchange-traded fund SPDR S&P 500 ETF Trust SPY is seeing the highest interest on the forum with 198 mentions as at press time, followed by Chewy with 88 mentions, data from Quiver Quantitative showed.

Videogame retailer GameStop Corp. GME and Chinese e-commerce giant Alibaba Group Holding Limited BABA are in the third and fourth positions, having attracted 81 and 74 mentions, respectively.

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Why It Matters: Chewy’s shares closed 5.0% lower on Friday. The company is scheduled to report earnings for the third quarter on Thursday, Dec. 9.

Chewy was co-founded by Ryan Cohen, who currently serves as chairman at GameStop. The company has a huge following for its fast shipping and automatic deliveries of food and supplies. 

Chewy CEO Sumit Singh believes that the environment for online shopping for pet products remains “bright”. In August, Singh said he wants to create an impressive shopping experience so that customers keep coming back to the company.

Chewy also expects to benefit from the increased adoption of pets by households.

Price Action: Chewy shares closed 5.0% lower in Friday’s regular trading session at $62.69, but rose almost 0.2% in the after-hours session to $62.81.

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