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PETS.US
id: 995

PetMed Express (PETS) Q2’23 Missed Sales Estimate and Dividend Suspension Case

  • In October 2023, PetMed (PETS) released its Q2’23 financial results, missing net sales estimates and suspending quarterly dividend.
  • On it, $PETS fell 24.9%, losing $48M+ of shareholder value.
  • Investors may have grounds to suspect that PetMed hid its financial setbacks, which led to their losses.
On October 30, 2023, PetMed released its financial results for Q2’23, reporting net sales of $71 million, missing estimates by $5 million. The Company also disclosed suspension of the quarterly dividend to invest the company's cash flow in projects and initiatives with higher returns.

On this news, $PETS fell 24.9% and lost over $48 million of its market capitalization, seriously damaging shareholders.

Considering all the information, investors might have grounds to suspect that PetMed failed to timely disclose its financial setbacks, which consequently led to their losses.

The case is already under investigation by at least one of the reputable law firms.
Case Status
Attorney Investigation
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
31 October 2023
Collecting participants…

PetMed Express Inc

PetMed Express, Inc., together with its subsidiaries, operates as a pet pharmacy in the United States. The company markets prescription and non-prescription pet medications, health products, and ot...

    Ticker
    PETS.US
    ISIN
    US7163821066
    CIK
    1040130
    Sector
    Healthcare
    Industry
    Pharmaceutical Retailers
    Country
    USA
    Address
    420 South Congress Avenue, Delray Beach, FL, United States, 33445