Why Chewy Stock Hit A New All-Time Low Today

Chewy Inc CHWY shares are trading lower by 2.85% to $19.58 Monday morning. The stock is falling after the company during Friday's after-hours session filed for a mixed shelf offering.

Chewy shares are also trading lower by 29% over the trailing month on downward momentum after the company reported second-quarter results.

See Also: Chewy Q2 Earnings Highlights: Revenue Beat, EPS Beat, Autoship Sales Shine Through

Chewy says the company, unless specifying otherwise in a prospectus supplement, intends to use the net proceeds from the sale of securities to provide additional funds for general corporate purposes. 

This may include repaying or refinancing debt, funding investments in, or extensions of credit to, subsidiaries, financing acquisitions, working capital and redeeming or repurchasing outstanding securities.

According to data from Benzinga Pro, CHWY has a 52-week high of $52.88 and a 52-week low of $19.42.