Why Petmed Is Wagging Its Tail

摘要

PetMed Express (PETS) is riding the growing spending wave on health products for dogs and cats. Stock in the largest online pet pharmacy is running counter to the market's weakness, climbing to 16.52 on Oct. 29 from 10 in January. Sales remain strong despite the downturn, thanks to steady business from loyal customers. Robust political spending has pushed general ad rates higher recently. But PetMed, a heavy online advertiser that also takes orders on an 800 phone line, has "successfully navigated a difficult ad market and delivered three quarters of solid financial results," notes Nancy Hall of investment outfit Ladenburg Thalmann, who rates the stock a buy.