Reported 12 months ago
Chewy Inc. shares initially spiked up to 10% after Keith Gill, also known as 'Roaring Kitty,' disclosed a 6.6% passive stake in the online pet food retailer, worth around $245 million. This move caused a temporary surge in share prices for Chewy and Petco Health and Wellness Co. Gill gained fame during the GameStop rally and returned to social media earlier this year, impacting the volatile nature of meme stocks. Chewy, similar to GameStop, has seen elevated short interest, but analysts believe it may be a 'safer' meme stock trade due to its growth and profitability.
Source: YAHOO