Jim Cramer on Chewy: “That Stock Is So Cheap”

Chewy, Inc. (NYSE:CHWY) was among the stocks Jim Cramer discussed on Mad Money, along with the recent sell-off in the market. Cramer discussed whether people are holding back on spending on pets, as he remarked:

Are people skimping on their pets? That’s supposed to never happen, right? I mean, I know when I interviewed Kevin Hassett, he’s the director of the National Economic Council, Hassett was, I think, he was really excited that everyone’s doing so well in the country. That’s great… Although I took issue with the idea that it was everyone. But when I talk to the retailers, they sound much more bleak, including Petco… Petco missed the quarter pretty badly. Maybe Chewy misses when it reports. That stock is so cheap. I don’t know.

Photo by Joel Moysuh on Unsplash

Chewy, Inc. (NYSE:CHWY) runs an online marketplace for pet food, supplies, medications, and health products, along with a range of pet services. During the May 11 episode, a caller asked if they should buy more, sell, or hold on to their position in the stock, and Cramer replied:

Okay, I’m glad you bring this up. This is another one, there’s a bunch of stocks that are like this. They’re high-growth companies that did not necessarily blow the doors off their number and are in retail. And because they’re retail, people feel that you can’t own retail because of the war. So this is definitely a hurt-by-war story, and I think the President should realize they’re becoming more and more hurt by war companies, and that’s what it is. Until the war ends, I can’t tell you to buy Chewy.

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