GameStop Shares Drop 9% as Roaring Kitty Shifts Focus to Chewy

Money | July 1, 2024, 8:44 p.m.

Subscribe now to Alpha Reports to gain access to exclusive reports and key insights on airdrops, NFTs, and more! GameStop (GME) took a hit as influencer Keith Gill turned his attention to Chewy (CHWY), causing GME to drop 9%. Gill purchased over 9 million CHWY shares, leading to speculation of a connection between both companies. Despite the drop in CHWY's value, Gill's pivot away from GME has impacted the stock's performance, which had previously skyrocketed after his social media endorsements. While GME has decreased by 64% since mid-May, it still remains above pre-Gill levels. However, Gill is facing a federal lawsuit for allegedly violating securities laws. Stay informed with Alpha Reports to navigate the ever-changing landscape of meme assets and stock manipulation. Visit Alpha Reports for more information.