After his GameStop play largely unraveled, Roaring Kitty appears to have turned his roving gaze toward the short-heavy online retailer of pet food and related products, Chewy Inc.
At 1 pm EST RoaringKitty posted the dog image below
At that exact time Chewy Inc. $CHWY sky rocketed from $27 to $35 a share which is over 28%
Could RoaringKitty be invested in $CHWY now? pic.twitter.com/Nd9PrN4FyB
— RoaringKittyTracker (@kittytrcker) June 27, 2024
Toward the end of June, Keith Gill, the OG meme stock veteran who goes by the "Roaring Kitty" moniker on Reddit, posted a cartoonish caricature of a dog that resembled Chewy's emblem, prompting a fierce surge in the shares of the online retailer of pet-related items.
Today, in a Form 13G filed with the SEC, Roaring Kitty revealed that he now owns 9.001 million Chewy shares, corresponding to a 6.6 percent stake in the online retailer. The stock is currently up around 29 percent in pre-market trading.
Interestingly, Roaring Kitty also included a feline meme joke within his Form 13G filing, which involved checking the box that declared that he was "not a cat."
Of course, in hindsight, one can admit certain similarities between Roaring Kitty's GameStop play and his ongoing short-squeeze-inducing moves vis-a-vis Chewy. First, the online retailer of pet-related items has a decent short interest, corresponding to 14.88 percent of the float. Additionally, Chewy was founded by none other than the current CEO of GameStop, Ryan Cohen, a few years back, creating a plausible if tenuous link between the two entities.
Roaring Kitty's GameStop Move Has Floundered For Now
A few weeks back, Gill revealed that he owned 5 million physical GameStop shares, and retained control over an additional 12 million shares through his 120,000 call options on the stock bearing the $20 strike price and expiring on the 21st of June, igniting bouts of heightened momentum in GameStop shares in the process.
After failing to spark a sustained bullish momentum in GameStop shares, however, Roaring Kitty announced before the 21st of June that he had sold all of his call options and that he now owned 9.001 million GameStop shares, up from his original 5 million shares. He also retained $6.34 million in cash.
$GME -7% premkt
GAMESTOP SHARES SLIDE AS ROARING KITTY HIT WITH SECURITIES FRAUD LAWSUIT
Keith Gill, a stock trader known for his role in the 2021 GameStop short-squeeze, is facing securities fraud allegations in a class-action lawsuit related to recent social media posts that…
— *Walter Bloomberg (@DeItaone) July 1, 2024
Meanwhile, GameStop shares are tanking right now as Roaring Kitty is hit with a securities fraud lawsuit for "orchestrating a pump and dump scheme through a series of social media posts starting on May 13."
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