Roaring Kitty reveals stake in Chewy big enough to make him 3rd largest investor in the pet retailer
Shares of Chewy are volatile in early trading after a regulatory filing revealed that Roaring Kitty, an investor at the center of the meme stock craze, has taken a 6.6% stake in the online pet retailer
By Ap News
Published - Jul 01, 2024, 10:15 AM ET
Last Updated - Jul 01, 2024, 10:15 AM EDT
NEW YORK (AP) — Shares of Chewy were volatile at the opening bell Monday after a regulatory filing revealed that Roaring Kitty, an investor at the center of the meme stock craze, has taken a 6.6% stake in the online pet retailer.
Roaring Kitty, whose legal name is Keith Gill, bought more than 9 million shares of Chewy last week, the Securities and Exchange Commission filing shows. Based on Friday's $29.05 closing price, that amounts to a value of over $261 million — making him the company's third-largest shareholder.
Shares jumped more than 20% before the opening bell. After rising 5% when markets opened, shares of Chewy Inc. slipped 3%.
Chewy, based in Florida, did not immediately respond to a request for comment from The Associated Press.
