Trading an issue on the day of its earnings report can be difficult. Monitoring the after-hours or premarket action along with being cognizant of the trading range from the last few sessions can be helpful. A good example of this is the price action in Chewy Inc. (NYSE:CHWY), which is the PreMarket Prep Stock of the Day.
Chewy's 2-Day Trading Range: The Street was leaning short into the report, as the issue has been in an extended downtrend. In Tuesday’s session, the issue had a range of $24.76 to $27.92 and finished in the red by $2.31, or 8.5%, at $24.80. On Wednesday, it had a range from $22.96 to $25.51 and finished in red by $1.31, or 5.3%, to close at $23.49.
