Theta Network

GameStop

Roaring Kitty

Chewy

Kitty

Influential stock trader Keith Gill, known as <a href="https://insidebitcoins.com/news/roaring-kitty-price-soars-240-as-keith-gill-discloses-586m-gme-stock-holding-and-this-3m-solana-meme-coin-prepares-to-list" rel="noopener noreferrer nofollow">Roaring Kitty</a> on social media platform X, has become the third largest individual <a href="https://www.sec.gov/edgar/browse/?CIK=0001766502" rel="noopener noreferrer nofollow">investor</a> in the pet store Chewy.
Gill holds 9,001,000 shares of the pet products company’s Class A common stock, or 6.6% stake, according to a June 24 13G <a href="https://www.sec.gov/Archives/edgar/data/1766502/000110465924076457/tm2418581d1_sc13g.htm" rel="noopener noreferrer nofollow">filing</a> with the US Securities and Exchange Commission (SEC). In the filing, he also clarified that he is not a cat.
<img decoding="async" src="https://s.yimg.com/ny/api/res/1.2/OTyykkboRLvhntBzLWvP6Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTY0MDtoPTQyNw--/https://media.zenfs.com/en/ap_finance_articles_694/80098f616bb4fbbbc55f9fbde414f6e4" alt="Roaring Kitty reveals stake in Chewy big enough to make him 3rd largest investor in the pet retailer">
The filing sent the crypto token CHEWY (CHWY) into orbit with a 497% pump in the last 24 hours. It <a href="https://www.geckoterminal.com/solana/pools/4wJDpWtaeuK76Aa8FY3gaJjCt1MxgL61eB84uWBonTxA" rel="noopener noreferrer nofollow">traded at $0.0000000001105</a> as of 03:29 a.m. EST on trading volume that skyrocketed 1,151% to $21.3 million.
<h2 id="span-style-font-weight-400-keith-gill-makes-first-known-investment-beyond-gamestop-span">Keith Gill Makes First Known Investment Beyond GameStop&nbsp;</h2>
Gill entered the public spotlight back in 2021 after his role in the GameStop short-squeeze. He then went offline for nearly 3 years, but recently brought an end to his hiatus.&nbsp;
The SEC filing shows that he bought the shares at a closing price of $27.24 on June 28. This means that the stake is worth about $245 million. His position in Chewy is his first known investment beyond GameStop.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 BREAKING: Keith Gill aka Roaring Kitty aka DeepFuckingValue of <a href="https://twitter.com/search?q=%24GME&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$GME</a> GameStop fame files a SEC 13G for <a href="https://twitter.com/search?q=%24CHWY&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$CHWY</a>, Chewy for 9,001,000 shares, or 6.6% of the company.
 He identifies in the SEC filing as “not a cat”. <a href="https://t.co/Fhm9WgDfiM" rel="noopener noreferrer nofollow">pic.twitter.com/Fhm9WgDfiM</a>
 — unusual_whales (@unusual_whales) <a href="https://twitter.com/unusual_whales/status/1807722318795616398?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 1, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
There is a link between GameStop and Chewy in the form of billionaire Ryan Cohen. In the past, Gill praised Cohen, who founded the online pet store and sold it in 2017. The billionaire is now the CEO of GameStop.
<h2 id="span-style-font-weight-400-institutional-chewy-stakeholders-fear-a-gamestop-repeat-span">Institutional Chewy Stakeholders Fear A GameStop Repeat&nbsp;</h2>
<a href="https://insidebitcoins.com/news/massachusetts-securities-regulator-investigates-roaring-kitty-over-trading-practices-as-gamestop-meme-coins-slump" rel="noopener noreferrer nofollow">Gill’s</a> investment in Chewy has raised concerns among the company’s executives. The primary concern is that asset managers who have a stake in the company might flee their positions over fears that Gill’s involvement might trigger a rollercoaster ride for its shares, according to a <a href="https://www.reuters.com/markets/us/stock-influencer-roaring-kitty-discloses-66-stake-chewy-2024-07-01/" rel="noopener noreferrer nofollow">Reuters report</a>.
Gill’s disclosure caused the price of Chewy stocks (CHWY) to soar to an intraday high of $30 yesterday. However, the stock has since erased its gains and was down 6.6% at the close of trading on July 1.
CHWY’s recent price movement somewhat echoes that of GameStop’s stock price following Gill’s reappearance online earlier this year. In just the 24 hours after his return, GameStop stock surged from $17.46 to $48.75 per share on May 14.
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”Roaring Kitty” Keith Gill Becomes Chewy’s Third Largest Individual Shareholder With 6.6% Stake

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Inside Bitcoins

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