Chewy (CHWY) stock rose more than 20% in premarket trading Monday before paring gains after SEC Deposit It was revealed that famous investor Keith Gill owns a 6.6% stake in the company.
Shares were down about 5% in early trading Monday.
Gill, a popular stock trader who goes by the online name “Roaring Kitty,” owned 9.1 million shares of Chewy on June 24, the July 1 filing showed.
This suggests that Jill owned the stock before a post on X from Roaring Kitty sent Chewy shares soaring as much as 30% on June 27. The account posted a cryptic image of a dog at 1 p.m. ET, sending the stock soaring before eventually paring its gains. It closed below the flat line.
No one is quite sure why Jill is interested in Chewy. Jill spoke fondly of GameStop’s current CEO, Ryan Cohen, who is also Chewy’s founder, during a June 7 livestream, but she made no direct comments about the pet care company. Cohen is no longer a member of Chewy’s board of directors.
Gill’s file also provided no significant evidence. Beyond listing the number of shares Gill owned, the 13-G filing provided another detail. Gill included a box asking to check the appropriate box to find out whether the filer was a cat.
Select the box that says “I am not a cat.”
Last week’s tweet and Monday’s filing were the latest in a series of activities by Gill, who resurfaced online in May. In the past month and a half, Gill has posted a series of memes, revealed a large stake in meme stock GameStop (GME) via screenshots, and hosted a YouTube live stream where he talked enthusiastically about GameStop.
Friday, June 28th. A class action lawsuit has been filed against Jill, Accusing Gill of misleading investors and possibly manipulating the market.
Despite huge jumps in stock prices amid Gill’s posts over the past month and a half, GameStop shares are now up just 3% over the past month.
Josh Shaffer is a reporter with Yahoo Finance. You can follow him on X @_Joshshafer.
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