Chewy (CHWY) stock soared more 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 company.
Shares were up more 6% in early trading on Monday.
The July 1 filing showed Gill, a popular meme stock trader who goes by the online name “Roaring Kitty,” owned 9.1 million shares of Chewy on June 24
This indicates 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 eventually lost gains and closed below the flat line.
Why Gill is interested in Chewy is largely unknown. Gill talked glowingly about current GameStop CEO Ryan Cohen, who is also the founder of Chewy, during a live stream on June 7 but hasn’t made direct comments about the petcare provider….
