Author: Rick Munarriz, The Motley Fool

Most portfolios are doing well these days. Major market indexes hit new highs on Friday, but not all stocks are playing. Chewy (NYSE: CHWY) is one of those former market darlings who didn’t get the memo.The online retailer of pet supplies has seen its shares sent to the doghouse. The chewy stock has fallen 55% over the past year, down 85% from its peak three years ago. This might seem like a bad time to warm to this out-of-favor investment, but with a telling financial report coming later this month it might as well sound like filling a food bowl.…