Covetrus, Inc. (CVET)’s Stock Is Sell After Touching All-Time Low

The stock of Covetrus, Inc. (NASDAQ:CVET) reached all time low today, May, 8 and still has $28.19 target or 6.00 % below today’s $29.99 share price. This indicates more downside for the $3.34B company. This technical setup was reported by Barchart.com. If the $28.19 PT is reached, the company will be worth $200.34 million less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only.

The stock decreased 6.78% or $2.18 during the last trading session, reaching $29.99. About 1.30 million shares traded. Covetrus, Inc. (NASDAQ:CVET) has 0.00% since May 8, 2018 and is . It has underperformed by 4.37% the S&P500.

Analysts await Covetrus, Inc. (NASDAQ:CVET) to report earnings on May, 9 after the close. CVET’s profit will be $18.93M for 44.10 P/E if the $0.17 EPS becomes a reality.

More notable recent Covetrus, Inc. (NASDAQ:CVET) news were published by: Businesswire.com which released: “Henry Schein and Vets First Choice Announce New Name of the Planned New Company: Covetrus – Business Wire” on December 20, 2018, also Globenewswire.com with their article: “Covetrus Celebrates Launch as Newly Formed Public Company – GlobeNewswire” published on February 08, 2019, Nasdaq.com published: “Why Henry Schein Stock Dropped 27% Today (But Not Really) – Nasdaq” on February 08, 2019. More interesting news about Covetrus, Inc. (NASDAQ:CVET) were released by: Businesswire.com and their article: “S&P to Add Covetrus to MidCap 400 Index – Business Wire” published on February 06, 2019 as well as Fool.com‘s news article titled: “Why Goodyear Tire & Rubber, Henry Schein, and Seattle Genetics Slumped Today – The Motley Fool” with publication date: February 08, 2019.

Covetrus, Inc. operates as an animal-health technology and services company. The company has market cap of $3.34 billion. The firm engages in the distribution of pharmaceuticals, nutrition products, consumable products, diagnostic tests, small and large equipment, laboratory products, surgical products, and others. It has a 21.42 P/E ratio. It also develops, sells, and distributes practice management software systems and computer hardware for animal health customers, as well as offers software support, data driven applications, training and education, client communication services, and value-added services.

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