Keith Gill's $245 Million Investment in Chewy Sparks Surge in Share Prices

Money | July 1, 2024, 5:34 a.m.

Keith Gill, also known as "Roaring Kitty," has disclosed a 6.6% passive stake in Chewy Inc., leading to a significant increase in the company's shares. Gill's ownership of roughly 9 million Class A shares, valued at $245 million, has sparked a surge in premarket trading for the online pet food and product retailer. This news comes after Gill gained notoriety for rallying retail traders around GameStop Corp earlier this year. The sudden rise in Chewy's stock follows Gill's recent post of a cartoon image of a dog on X, driving excitement and speculation among investors. With this latest development, Chewy's future in the market seems promising as Gill continues to make his mark on the investing world.