CHWY - Roaring Kitty Has a Big Chewy Position. Is It Time to Buy Sell or Hold the Stock?
2024-07-02 04:03:00 ET
Shares of Chewy (NYSE: CHWY) jumped about 18% in pre-market trading on July 1. Folks were responding to recent activity from the highly influential retail stock trader Keith Gill, aka Roaring Kitty.
On the afternoon of June 27, Gill posted a generic dog illustration on his preferred social media platform. Chewy stock jumped in response to the cryptic post because many of Gill's followers know that Chewy's founder and former CEO, Ryan Cohen, is also chairman of GameStop 's board of directors and its CEO.
Chewy's stock rally fizzled out on Friday, June 28, only to resume in force on the morning of Monday, July 1, after Gill disclosed to the Securities and Exchange Commission (SEC) a 6.6% stake in the online pet product retailer.
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Roaring Kitty Has a Big Chewy Position. Is It Time to Buy, Sell, or Hold the Stock?