CHWY - Roaring Kitty Owns $217 Million of Chewy Stock. Should You Get In Now?
2024-07-06 04:44:00 ET
Keith Gill, aka Roaring Kitty, has a new favorite stock.
The man behind the GameStop meme stock phenomenon filed a disclosure with the Securities and Exchange Commission (SEC) on July 1 showing that on June 24, he took a 6.6% stake in Chewy (NYSE: CHWY) . As of the close of trading on July 3, that stake was worth about $217 million. That's a massive bet for Gill.
The combination of Gill's bullishness and his social media following has made the stock extremely volatile. Shares surged higher when Gill posted a picture of a cartoon dog on X in late June, and they moved again following the SEC disclosure. But Chewy stock has already given back most all the gains it made since Gill made his big purchase, and then some. That gives those who might be interested in following him into the stock an opportunity to get in at a similar price.
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Roaring Kitty Owns $217 Million of Chewy Stock. Should You Get In Now?