Breaking: SEC Filing Reveals “Roaring Kitty’s” Mind-Blowing Stake in Chewy

On Friday, Keith Gill, better known as "Roaring Kitty," unleashed a whirlwind on Wall Street with a single tweet—a dog emoji. 

The result? Chewy, the go-to online paradise for pet lovers, saw its stock shoot up by a solid 11%, faster than a dog chasing a squirrel in the park. Investors were left scratching their heads, wondering if they were barking up the wrong tree… or if this was all a joke.

Well guess what, it was no joke. Because the real bombshell dropped today with an SEC filing that spilled the beans on Gill's stealthy move: he quietly snagged a whopping $245 million worth of Chewy shares. 

It's like finding a wad of cash in your old jacket pocket, except Gill found it in his brokerage account. Holding about 6.6% of Chewy, he's not just a shareholder anymore; that’s a big enough stake to be considered an insider.

True to his style, Gill injected some humor into the filing, quipping that he's "not a cat."

You know, because in the world of internet memes, a dog emoji might easily be mistaken for a feline endorsement. This classic Roaring Kitty move kept the tone light even in the midst of serious financial disclosures… something he’s made a habit out of recently.

Back in 2020, Gill gained notoriety by rallying small investors to take on Wall Street giants, boosting struggling companies like GameStop. Their efforts didn't exactly turn these stocks into overnight successes, but boy, did they stir things up.

Now, some might call Keith Gill this generation's Warren Buffett—only if Buffett tweeted memes and rallied traders on Reddit. But that’s because Gill's moves are watched with the same intensity as when your grandma eyes the last piece of pie at Thanksgiving: everyone's curious to see what happens next.

(Source: Bloomberg)

As Uncle Ben famously said (no, not the rice guy), "With great power comes... lawsuits." Gill now faces legal action in Brooklyn, accused of playing puppeteer with GameStop's stock prices. And to add more drama to the mix, analysts are speculating that Gill's interest in Chewy could be influenced by its ties to Ryan Cohen, Chewy's co-founder and GameStop's CEO.

Since the SEC spilled the beans, Chewy's stock has been on a rollercoaster ride, with highs and lows that rival a theme park on Red Bull. Despite the market's ups and downs, Chewy managed to bounce back with an impressive 14% gain in 2024.

And the gamblers of reddit are getting in on the action as well. Considering Chewy's stock options have been flying off the shelves faster than toilet paper during covid. Investors are betting big on Chewy crossing the $30 mark by mid-July. Probably a waste of money, but as Mark Cuban says “you only have to be right once”...

Stocks.News does not have positions in companies mentioned.