As pet ownership booms, could these 3 stocks help you profit?

The variety of households that personal a pet is anticipated to extend from 68 million to 71 million by the tip of this yr. About 94% of the pet-owning households within the U.S. personal both a canine or cat. That is excellent news for firms that serve the marketplace for pet provides like meals, drugs, and insurance coverage.

Chewy(NYSE: CHWY), IDEXXLaboratories(NASDAQ: IDXX), and Lemonade(NYSE: LMND) are three firms benefiting from the pattern of elevated pet possession in several methods. It is no surprise Individuals spent a document $96 billion on pet services and products in 2019 provided that 77% of canine and cat homeowners viewing their fur infants as relations. There isn’t a query that spending document shall be damaged in 2020 because the variety of pet-owning households will increase. Let’s take a look at how that progress will profit these three firms.

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