#RoaringKitty #ChewyStockSurge #MemeStocks
I'm thrilled to share with you a remarkable story about Keith Gill, aka "Roaring Kitty," a meme stock trader who's making waves in the market. On Monday, Chewy's stock surged 20% in premarket trading after a Securities and Exchange Commission (SEC) filing revealed that Gill had acquired a significant stake in the pet food e-commerce retailer.
According to the SEC filing, Gill purchased slightly over 9 million shares, representing a 6.6% ownership in Chewy. This move positions him as the third-largest shareholder of the company, as reported by FactSet. As of Friday's closing price, this stake is estimated to be worth over $245 million.
The news sent Chewy's stock soaring, with shares rising by more than 20% prior to the market opening. This is a significant development for the company, and it will be interesting to see how Gill's involvement impacts Chewy's future performance.
Original Article: https://www.cnbc.com/2024/07/01/chewy-shares-rally-20percent-after-sec-filing-reveals-roaring-kitty-keith-gill-has-6point6percent-stake.html
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