Chewy (CHWY) stock rose more than 20% in premarket trading Monday before paring gains after File with the Securities and Exchange Commission He revealed that famous investor Keith Gill owns a 6.6% stake in the company.
Shares were down about 5% in early trading Monday.
A July 1 filing showed that Gill, a popular stock trader who goes by the online name “Roaring Kitty,” owned 9.1 million shares of Chewy as of June 24.
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 filing also provided little evidence. Beyond listing the number of shares Gill owned, the 13-G filing provided other details. Gill included a box asking whether the filer was a cat.
Jill checked the box that said, “I’m not a cat.”
Last week’s tweet and Monday’s post are the latest in a series of memes from Gill, who resurfaced online in May. Over the past month and a half, Gill has posted a series of memes, revealed a large stake in the GameStop (GME) meme stock via screenshots, and hosted a YouTube livestream where he waxed lyrical about GameStop.
On Friday, June 28th A class action lawsuit has been filed against Jill, Gill was accused of misleading investors and manipulating the market.
Despite the huge jumps in the stock 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 @_joshschafer.
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