Soft (BLOW) stock soared more than 20% in premarket trading Monday before paring its gains after an SEC filing Popular investor Keith Gill has revealed he owns a 6.6% stake in the company.
Shares rose more than 6% in early trading Monday.
The July 1 filing showed that Gill, a popular stock trader known online as “Roaring Kitty,” now owns 9.1 million shares of Chewy.
The filing follows an article on X by Roaring Kitty sent Chewy shares soaring up to 30% on June 27. The account posted a cryptic photo of a dog at 1 p.m. ET, sending the stock higher before ultimately losing its gains and closing below the flatline.
It’s unclear why Gill is interested in Chewy. Gill spoke glowingly about Ryan Cohen, the current CEO of GameStop and founder of Chewy, during a live stream on June 7, but didn’t comment directly on the pet care provider. Notably, Cohen is no longer on Chewy’s board of directors.
Gill’s file also provided small clues. Apart from listing the number of shares Gill owns, the 13-G filing provided another detail. Gill included a box that asks you to check the appropriate box to determine whether or not the declarant is a cat.
Gill checked the box “I’m not a cat.”
Last week’s tweet and Monday’s post are the latest in a series of activities by Gill, who resurfaced online in May. Over the past month and a half, Gill has posted a series of memesrevealed an important issue in initial GameStop meme stock (GME) via screenshots, and held a YouTube live where he spoke enthusiastically about GameStop.
On Friday June 28, a class action against Gill has been filed, accusing Gill of misleading investors and potentially manipulating the market.
Despite massive stock gains amid Gill’s releases over the past month and a half, GameStop shares are up just 3% over the past month.
Josh Schafer is a reporter for Yahoo Finance. Follow him on @_joshschafer.
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