An SEC filing has unveiled that Keith Gill, famously known as ‘Roaring Kitty’ on social media, holds a substantial $245 million stake in the online pet retailer Chewy (CHWY). This investment grants him a 6.6% share in the company, making him the third-largest shareholder. Following the announcement, Chewy’s stock surged by up to 20%.
Last week, Chewy shares experienced a rollercoaster ride after Gill posted an image of a cartoon dog resembling Chewy’s logo on the social media platform X. The shares soared by as much as 34% on Thursday before settling slightly lower by the end of the day.
Gill, renowned for his advocacy of GameStop, has been actively influencing the video game retailer’s trading in recent months. In mid-June, he revealed a holding of 9.001 million GameStop shares after divesting his extensive call options position. It’s unclear whether he sold his GameStop shares to finance the Chewy investment. Anyway, GameStop shares dropped over 5% following the news.
Source: https://www.cnbc.com/2024/07/01/chewy-shares-rally-20percent-after-sec-filing-reveals-roaring-kitty-keith-gill-has-6point6percent-stake.html
Roaring Kitty YouTube Live Stream on June 7th, 2024
Unlike the previous crusade known as the GameStop Saga, Keith’s current revelations have a very short-term speculative impact on assets, even resulting in some drop of price. Can we hope for a second season of the Saga u/TheRoaringKitty?
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