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Chewy stock spikes after ‘Roaring Kitty’ posts cryptic picture of dog on X

by Doggone Well Staff
June 27, 2024
in PETS
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Chewy stock spikes after ‘Roaring Kitty’ posts cryptic picture of dog on X
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Chewy (CHWY) stock rose as much as 30% on Thursday after the X account linked to investor Keith Gill, also known as “Roaring Kitty,” posted a picture of a dog.

Posts on Gill's account have been driving up shares of GameStop (GME) over the past month.

While that meme trade had largely gone quiet over the past week, the account's tweet at 1 p.m. ET sent shares of Chewy rocketing higher. The stock relinquished gains and sat up about 10% 30 minutes after the initial tweet.

Gill recently talked glowingly during a YouTube livestream about GameStop CEO Ryan Cohen, who is also the founder of Chewy.

Gill explained his large position in GameStop was a “bet on the management.”

Dog Food topper - Getquelle365

“In particular, of course, Ryan f***ng Cohen. Ryan Cohen and his crew,” Gill said. “That's what folks should be focused on,” Gill said.

Other pet stocks also caught a bid following the tweet, with shares of both Petco (WOOF) and PetMed Express (PETS) rising in afternoon trading.

Notably, GameStop, which had previously moved higher off Keith Gill's reemergence, was up just 5% on the day, little changed after the tweet.

Logos for Chewy Inc. are displayed on the trading floor on the morning of the company's IPO at the New York Stock Exchange (NYSE) in New York City, U.S., June 14, 2019. REUTERS/Andrew Kelly

Logos for Chewy Inc. are displayed on the trading floor on the morning of the company's IPO at the New York Stock Exchange (NYSE) in New York City, U.S., June 14, 2019. (REUTERS/Andrew Kelly) (REUTERS / Reuters)

This is a breaking news post and will be updated with further reporting.

Josh Schafer is a reporter for Yahoo Finance. Follow him on X @_joshschafer.

Click here for in-depth analysis of the latest stock market news and events moving stock prices.

Read the latest financial and business news from Yahoo Finance





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Tags: ChewycrypticdogKittypicturePostsRoaringspikesStock
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