Diamonds and Dogs


The pet industry has proven to be recession-resilient. Chewy (CHWY) is modestly higher and up 100% from the March lows as the $18 billion online pet supplies retailer has emerged as one of the biggest winners during this period of lockdowns, panic buying and rising pet adoption. Chewy's sales are booming as worried dog and cat owners stock up on food during the pandemic. The e-commerce company is hiring up to 10,000 workers to meet this unprecedented demand. Pets, particularly dogs, are eating more thanks to the multiple walks their owners take them on each day.

Profit-taking in the tech space. Intel (INTC) is lower by 2% following earnings. Intel beat even as sales fell 23%. The company removed full year guidance concerned investors of declining sales in the second half of the year. Google (GOOGL) is down a percent on news the company is reevaluating their spending and investment plans for the rest of the year, possibly slashing its marketing budget in half.

Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.