Stock Alert: Chewy Up 6% After Launching New Telehealth Service For Pets

(RTTNews) - Shares of Chewy Inc. (CHWY), an online retailer of pet food, supplies and medications, are rising more than 6 percent or $4.44 in Wednesday's morning trade at $72.16.

Wednesday, Chewy said it has launched a new telehealth service, called "Connect With a Vet," that allows pet parents and veterinarians to leverage the company's proprietary tele-triage platform for continuous veterinarian care and support amid the COVID-19 pandemic.

The "Connect With a Vet" tele-triage service, initially launched by Chewy in Florida and Massachusetts in May, has been expanded to over 35 states with plans to offer it nationwide. The service is currently available exclusively and free of charge to customers who are subscribed to Chewy's Autoship program, which is responsible for nearly 70 percent of its net sales.

Chewy has traded in a range of $20.62 to $74.84 in the past 52 weeks.