Petco Health and Wellness Co Inc - Ordinary Shares - Class A Stock News

Petco Health + Wellness (WOOF) shares reversed course after the opening bell and surged nearly 35% by midday Wednesday, apparently fueled again by meme stock hero "Roaring Kitty," a.k.a. Keith Gill.

Petco reported mixed Q2 results following the market close on Tuesday. The pet retailer also provided Q3 guidance that was slightly below expectations.

Petco Health & Wellness Company Inc (NASDAQ:WOOF) stock is soaring today, following the pet retailer's second-quarter results.

If a stock's earnings ultimately determine its stock price, then buying stocks that promise massive earnings growth should lead to dramatic share price gains.

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF ) Q2 2024 Earnings Call Transcript September 10, 2024 5:00 PM ET Company Participants Benjamin Thiele-Long - Chief ESG & Communications Officer Joel Anderson - CEO Brian LaRose - CFO Conference Call Participants Zach Fadem - Wells Fargo Peter Benedict - Baird Steven Forbes - Guggenheim Seth Basham - Wedbush Michael Lasser - UBS Kaumil Gajrawa...

Q2 2024 Overview Net revenue of $1.52 billion decreased 0.5 percent year over year Comparable sales increased 0.3 percent year over year and increased 3.5 percent on a two-year basis GAAP net loss of $24.8 million, or $(0.09) per share, compared to GAAP net loss of $14.6 million, or $(0.05) per share in the prior year Adjusted EBITDA1 of $83.5 million compared to $112.6 million in the prior yea...

One of the noteworthy developments that came out of the tech stock selloff in July was where investors turned.

In late July, Conn's (OTCMKTS: CONNQ ) announced that it filed for Chapter 11 and would close at least 70 locations across 13 states. It quickly was added to a list of retail stocks to sell.