2 ms·
Maybe not exactly the same bubble, but it's hard not to make parallels. Pets.com, one of the most comical cases of 2000s, was worth $400M at peak. When Chewy.co
by ashvardanian 5y ago
Maybe not exactly the same bubble, but it's hard not to make parallels.
Pets.com, one of the most comical cases of 2000s, was worth $400M at peak.
When Chewy.com went public, they dwarfed that number with a new record of $13B.
The analogy was so obvious, that CNBC wrote an article on that [1].
After that $CHWY managed to go as high as $118/share, translating into a market cap of roughly $50 Billion in December 2021. Now they are trading at about half that price.
[1]: https://www.cnbc.com/2019/07/26/opinion-chewy-is-no-petscom.html https://www.cnbc.com/2019/07/26/opinion-chewy-is-no-petscom....
- joshgel 5y agoIsn’t the fact that they got cut in half (and other examples, peloton for example) evidence that this isn’t a bubble. There are companies that are exploding in value, yes, but also companies just getting crushed left and right. If you’re growing, your value is very high, but miss your targets and boom, bye bye froth.
- Traster 5y agoIsn't what you're describing stage 4 of a bubble - https://www.investopedia.com/articles/stocks/10/5-steps-of-a-bubble.asp https://www.investopedia.com/articles/stocks/10/5-steps-of-a...