”Roaring Kitty” Keith Gill becomes Chewy’s third largest individual shareholder with a 6.6% stake

Influential stock trader Keith Gill, known as Roaring Kitty on social media platform investor at the Chewy pet store.

Gill owns 9,001,000 shares of the pet products company’s Class A common stock, or a 6.6% stake. according to a 13G dated June 24 submit with the US Securities and Exchange Commission (SEC). In the filing, he also clarified that he is not a cat.

The filing sent the crypto token CHEWY (CHWY) into space with a pump of 497% in the last 24 hours. It trading at $0.0000000001105 as of 3:29 a.m. EST, trading volume increased 1,151% to $21.3 million.

Keith Gill makes first known investment after GameStop

Gill came into the public eye in 2021 after his role in the GameStop short squeeze. He then went offline for almost three years, but recently ended his hiatus.

The SEC filing shows he bought the stock on June 28 at a closing price of $27.24. This means the stake is worth approximately $245 million. His position at Chewy is his first known investment outside of GameStop.

BREAKING: Keith Gill, aka Roaring Kitty, aka DeepFuckingValue or $GME GameStop Fame files an SEC 13G for $CHWYChewy for 9,001,000 shares, or 6.6% of the company.

He identifies himself in the SEC filing as “not a cat.” pic.twitter.com/Fhm9WgDfiM

— unusual_whales (@unusual_whales) July 1, 2024

There is a link between GameStop and Chewy in the form of billionaire Ryan Cohen. In the past, Gill has praised Cohen, who founded the online pet store and sold it in 2017. The billionaire is now CEO of GameStop.

Institutional tough stakeholders fear a repeat of GameStop

Gill’s investment in Chewy has raised concerns among company executives. The main concern is that asset managers with a stake in the company could flee their positions amid fears that Gill’s involvement could cause a rollercoaster ride for its shares, according to a Reuters reports this.

Gill’s revelation sent the price of Chewy stock (CHWY) soaring to an intraday high of $30 yesterday. However, the stock has since erased its gains and was down 6.6% at the end of trading on July 1..

CHWY’s recent price movement somewhat mirrors that of GameStop’s stock price after Gill reappeared online earlier this year. In just 24 hours after his return, GameStop stock rose from $17.46 to $48.75 per share on May 14.

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