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”Roaring Kitty” Keith Gill Becomes Chewy’s Third Largest Individual Shareholder With 6.6% Stake

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Keith Gill, aka Roaring Kitty
Keith Gill, aka Roaring Kitty

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Influential stock trader Keith Gill, known as Roaring Kitty on social media platform X, has become the third largest individual investor in the pet store Chewy.

Gill holds 9,001,000 shares of the pet products company’s Class A common stock, or 6.6% stake, according to a June 24 13G filing with the US Securities and Exchange Commission (SEC). In the filing, he also clarified that he is not a cat.

Roaring Kitty reveals stake in Chewy big enough to make him 3rd largest investor in the pet retailer

The filing sent the crypto token CHEWY (CHWY) into orbit with a 497% pump in the last 24 hours. It traded at $0.0000000001105 as of 03:29 a.m. EST on trading volume that skyrocketed 1,151% to $21.3 million.

Keith Gill Makes First Known Investment Beyond GameStop 

Gill entered the public spotlight back in 2021 after his role in the GameStop short-squeeze. He then went offline for nearly 3 years, but recently brought an end to his hiatus. 

The SEC filing shows that he bought the shares at a closing price of $27.24 on June 28. This means that the stake is worth about $245 million. His position in Chewy is his first known investment beyond GameStop.

There is a link between GameStop and Chewy in the form of billionaire Ryan Cohen. In the past, Gill praised Cohen, who founded the online pet store and sold it in 2017. The billionaire is now the CEO of GameStop.

Institutional Chewy Stakeholders Fear A GameStop Repeat 

Gill’s investment in Chewy has raised concerns among the company’s executives. The primary concern is that asset managers who have a stake in the company might flee their positions over fears that Gill’s involvement might trigger a rollercoaster ride for its shares, according to a Reuters report.

Gill’s disclosure caused the price of Chewy stocks (CHWY) to soar to an intraday high of $30 yesterday. However, the stock has since erased its gains and was down 6.6% at the close of trading on July 1.

CHWY’s recent price movement somewhat echoes that of GameStop’s stock price following Gill’s reappearance online earlier this year. In just the 24 hours after his return, GameStop stock surged from $17.46 to $48.75 per share on May 14.

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