Over the past 30 days, I have purchased 250,000 shares of $CHWY - CHEWY, not because it's a Ryan Cohen or Meme stock play, but b/c it's extremely low to zero debt and a cash generating machine.
Their auto-ship, higher quality pet products, and online presence has caused brick & mortar retailers to struggle (Petco), while their retention & GP increases without severe overhead of their counterparts.
Trading at a a historical low P/E on a forward basis, I believe we are 30-45% undervalued at these levels. Retail is far from dead, and after comparing Amazon prices to $CHWY, CHWY has been cheaper for about 50-60% of the items that sell for same on Amazon and faster shipping with better customer service. I will continue using Chewy for my pet products and believe they have been unfairly sold off with the rest of retail.
Most retailers have high debt and debt service coming due, Chewy has none of that.
They also most likely will be an acquisition target, as they offer a turn-key add-on solution to any major retailer (I.e. walmart/Amazon/Target) etc. and can pivot their pet medical offering as well.