Arsenal's festive fixtures couldn't have gone worse for the North London club, who fell from first place in the Premier League at Christmas to fourth on New Year's Day.
The Gunners have lost two league matches in a row and are winless in three, which has allowed Liverpool to take over the top spot in the standings while Aston Villa and Manchester City have also leapfrogged Mikel Arteta's side.
The speed at which they've dropped will surely set off some alarm bells at the Emirates Stadium, but a former league-winning Arsenal player feels that his old club is still capable of challenging for the title — as long as some additions are made in the now-open transfer window.
"No, I don't think Arsenal are out of the title race," Emmanuel Petit told DAZN Bet. "But as I said a couple of weeks ago, I think it's still a little bit too soon for Arsenal to win the Premier League.
"I think they have reduced the gap with Manchester City, but I think it depends on how they do in the transfer market in January.
"Usually you don't make a big impact in the transfer market in January, but they are missing a couple of players, something I said before the start of the Premier League and I've said that recently as well.
"I still believe it’s the case because in the last few games, they have looked sloppy and tired, both physically and mentally."
One area in particular that the Gunners have been reportedly looking to shore up is at striker, with Dominic Solanke and Ivan Toney among the leading candidates linked to a potential move.
For Petit, Arsenal's search for a goalscorer should start and end with one man.
"Dominic Solanke is not my priority," the World Cup winner said. "I think he's a good player, but he's playing for Bournemouth and is struggling with the team. I think he's playing well for Bournemouth, he can score goals, can give assists, but is he really that the striker that Arsenal needs?
"I'm not really sure about that. If I had to choose between Toney and Solanke I would definitely choose Toney, definitely.
"Toney was not injured, so of course he will miss the first couple of games, but he will come back on the pitch fresh in his mind, fresh in his body, and with the feeling of revenge. Because what was done, the sanction, for months without playing, he did something wrong.
"So when you look at the mentality game for Brentford, every single game, I presume this guy is like a lion waiting in his cage.
"So this guy will be fresh mentally and physically on top of it. He's a nightmare for defenders, this guy is always moving, fighting for balls, and he's good with the ball. He creates so many chances for himself and for his teammates, he scores goals, he gives assists, so yes definitely.
"And don't forget that the Euros are coming soon. So if he plays for Arsenal with the Champions League this is something you have to put on top of the league as well. So for different reasons I will go for Toney."