Headlines

Pet-Related Stocks Are Crushing It This Year

Published

6 years ago

August 18, 2017

PETS+ Staff

American’s are showering their pets with love and money.

America’s love affair with pets apparently extends to the stock market.

An index designed to track companies in the pet business has posted impressive gains over the past year, Bloomberg reports.

The Pet Passion Index, designed by Motif Investing, is up 19 percent since this time in 2016.

Among the fastest-rising stocks are IDEXX Laboratories. and PetMed Express.

Citing analysts, Bloomberg reports that “an improving economy has encouraged pet adoptions and loosened up the wallets of people who already have one.”

David Westenberg, analyst with CL King & Associates, is quoted saying the pet industry often appeals to investors “who want to wait on the sidelines until the health-care debate shakes out.”

Pet industry spending for 2016 came in at $66.75 billion, up from $60.28 billion in 2015, according to the American Pet Products Association.

Read more at Bloomberg

Related Topics:American Pet Products Association

click to Comment(Comment)

NASC Media Spotlight

At first it was just an idea: Animal supplements needed the same quality control that human-grade supplements receive. But that was enough to start a movement and an organization —the National Animal Supplement Council — that would be dedicated to establishing a comprehensive path forward for the animal supplements industry. In this Media Spotlight interview, NASC’s president, Bill Bookout, talks to PETS+ interviewer Chloe DiVita about the industry today: Where it’s headed, what’s the latest focus and why it’s vital to gain the involvement of independent pet product retailers.