Shares of Chewy haveactually fallen in unpredictable trading after a regulative filing exposed that Roaring Kitty, an financier at the center of the meme stock fad, hasactually taken a 6.6% stake in the online familypet merchant
ByWYATTE GRANTHAM-PHILIPS AP service author
NEW YORK — Shares of Chewy fell Monday in unpredictable trading after a regulative filing exposed that Roaring Kitty, an financier at the center of the meme stock fad, hasactually taken a 6.6% stake in the online animal seller.
Roaring Kitty, whose legal name is Keith Gill, purchased more than 9 million shares of Chewy last week, the Securities and Exchange Commission filing programs. Based on Friday’s $29.05 closing cost, that amounts to a worth of over $261 million — making him the business’s third-largest investor.
Shares in Chewy leapt more than 20% before the opening bell. But they ended the day down nearly 7%.
Chewy, based in Plantation, Florida, did not rightaway respond to a demand for remark.
Gill tipped his hand last week on his sensations about the business, publishing a image of a pet on social media platform X and sendingout Chewy’s stock up more than 30% in intrada