Chewy (BLOW) the stock climbed more than 20% in premarket trading Monday before paring gains after an SEC filing revealed that popular investor Keith Gill owns a 6.6% stake in the company.
Shares were down about 5% in early trading Monday.
The July 1 filing showed that Gill, a popular stock trader known online as “Roaring Kitty,” owned 9.1 million shares of Chewy on June 24.
This indicates that Gill owned the shares before a publication on Roaring Kitty sent Chewy’s stock 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 not entirely clear why Gill is interested in Chewy. Gill spoke enthusiastically about Ryan Cohen, the current CEO of GameStop and founder of Chewy, during a June 7 livestream, but did not comment directly on the pet care provider. Notably, Cohen is no longer on Chewy’s board of directors.
Gill’s file didn’t provide many clues either. Besides listing the number of shares held by Gill, the 13-G filing provided another detail. Gill included a box asking to check the appropriate box for 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 the initial GameStop meme stock (GME) via screenshots, and hosted a YouTube live where he spoke enthusiastically about GameStop.
Friday June 28 a class action against Gill has been filed, accusing Gill of misleading investors and potentially manipulating the market.
Despite the stock’s massive jumps following Gill’s posts over the past month and a half, GameStop shares are now up just 3% over the past month.
Josh Schafer is a reporter for Yahoo Finance. Follow him on X @_joshschafer.
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