Monday’s surge in Chewy shares stalled as investors reacted to a report from the Securities and Exchange Commission revealing that popular stock trader “Roaring Kitty” had acquired stock in the pet food online retailer.
Keith Gill, also known as Roaring Kitty, purchased little more than 9 million shares, or 6.6% of the corporation.
That places him as the third-largest stakeholder in Chewy. At Friday’s close, the value of that holding exceeded $245 million.
On Monday, the stock gained over 9%, but it dropped 6% in early trading to enter negative territory.
There was another portion in the SEC filing that said, “Check the appropriate box to designate whether you are a cat.” A comment that said, “I am not a cat,” had a “x” next to it.
During a series of congressional hearings concerning the GameStop trading frenzy of 2021, Gill made this testimony.
Source (CNBC)
