Chewy Shares Soar 1.87% to 52-Week High

Chewy(CHWY) shares surged 1.87% today, marking the sixth consecutive day of gains, with a cumulative increase of 11.75% over the past six days. The stock price reached its highest level since February 2023, with an intraday gain of 2.05%.

The strategy of buying CHWY shares after they reached a recent high and holding for 1 week yielded solid results over the past 5 years. The total return was 1.33%, with an annualized return of 0.27%. This indicates that while the strategy captured some gains, the returns were relatively modest compared to holding the stock for longer periods or investing in other high-performing stocks.

Chewy's recent stock performance has been robust, with shares reaching a 52-week high of $43.9, reflecting strong market performance and investor confidence. This upward trend is part of a broader year-to-date rally, with the stock gaining approximately 25% despite macroeconomic uncertainties.

Executive activities have also played a role in Chewy's stock price fluctuations. In May, CEO Sumit Singh sold over 208,000 shares of the company's stock, which could influence investor perception and stock price. Additionally, the announcement that CFO David Reeder is stepping down to pursue a position in the semiconductor industry has added to investor sentiment and the stock's volatility.