May. 15 at 6:39 PM
$WOOF since the recovery phase in April 2024, Petco stock has been under the 200 day moving average for approx 50% of the time. It tends to clearly flip back and forth, but has clearly not stabilized or established an uptrend. The likelihood before or after earnings is a run to back above the 200 dma. But, the trend also for the last years has been lower lows , and it's not out of the question for it to go to
$2, or even just below. They had a good quarter last time, but they also hadn't experienced yet higher transportation costs from oil prices, and the potential lowered customer traffic.
I don't think it's a slam dunk that this goes immediately higher after earnings. It's probable, and one would think that things are now priced in with the stock at 2.60. but still in saying it's not a slam dunk.
