PETS provided their quarterly earnings today. The market clearly liked what it saw as it moved up 30%!
PETS provides pet medications and its financials show how well the management runs the company. With Chewy (private equity) trying to advertise themselves to the top, PETS did a great job doing what they do best - fundamental blocking and tackling.
I was a little concerned with their competitor, Chewy.com, and all their advertising. It appears to me that Chewy is trying to sell product at a loss or tiny gain to push others out of the market. Chewy is 70% owned by private equity. They had a recent IPO for the other 30% stake in Chewy. Basically, Chewy used the public market to finance the business, but with only 30% in public hands, the public markets will have no say in the management. Furthermore, Chewy (like most IPO's these days) is losing big money.
I commented on PETS strengths back in January of this year. They are doing a bang up job!
