Chewy stock surges after ‘Roaring Kitty’ discloses 6.6% stake

Chewy (CHWY) stock soared greater than 20% in pre-market trading on Monday before paring gains after an SEC filing revealed popular investor Keith Gill has a 6.6% stake in the corporate.

Shares were up more 6% in early trading on Monday.

The July 1 filing showed Gill, a well-liked meme stock trader who goes by the net name “Roaring Kitty,” owned 9.1 million shares of Chewy on June 24

This means Gill owned the shares before a post on X from Roaring Kitty sent Chewy shares soaring as much as 30% on June 27. The account posted a cryptic photo of a dog at 1 p.m. ET, sending the stock surging before it will definitely lost gains and closed below the flat line.

Why Gill is fascinated by Chewy is basically unknown. Gill talked glowingly about current GameStop CEO Ryan Cohen, who can also be the founding father of Chewy, during a live stream on June 7 but hasn’t made direct comments concerning the petcare provider. Notably, Cohen is not any longer on the manager board at Chewy.

Gill’s filing also provided little clues. Outside, of listing what number of shares Gill owns, the 13-G filing provided one other detail. Gill included a box that asks to ascertain the suitable box for whether or not the filer is, or will not be, a cat.

Gill checked the box labeled “I’m not cat.”

In Gill’s 13G filing he included a box to discover whether or not he’s a cat. (Securities and Exchange Commission)

Last week’s tweet and Monday’s filing are the newest in a string of activity from Gill, who remerged online in May. Up to now month and a half, Gill has posted a series of memes, revealed a big stake within the initial meme stock GameStop (GME) via screenshots, and hosted a YouTube live where he talked glowingly about GameStop.

On Friday, June 28, a category motion lawsuit against Gill was filed, accusing Gill of misleading investors and potentially manipulating the market.

Despite massive stock jumps amid Gill’s posts over the past month and a half, GameStop shares are actually up just 3% over the past month.

Josh Schafer is a reporter for Yahoo Finance. Follow him on X @_joshschafer.

Click here for in-depth evaluation of the newest stock market news and events moving stock prices.

Read the newest financial and business news from Yahoo Finance

Leave a Comment

Copyright © 2024. All Rights Reserved. Finapress | Flytonic Theme by Flytonic.