BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of PetMed Express, Inc. (“PetMed” or the “Company”) (NASDAQ: PETS) investors concerning the Company’s possible violations of federal securities laws.
On October 30, 2023, PetMed released its financial results for the second quarter of 2023, reporting net sales of $71 million, missing estimates by $5 million. Additionally, the Company disclosed that it “made a decision to suspend the quarterly dividend” to “invest the company's cash flow in projects and initiatives that we believe will yield higher returns.”
On this news, PetMed's stock price fell $2.29, or 24.9%, to close at $6.89 per share on October 31, 2023, thereby injuring investors.
If you purchased PetMed securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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