(Bloomberg) — Shares of Chewy Inc. jumped as much as 29% in premarket trading Monday after Keith Gill — known online as “Roaring Kitty” — disclosed a 6.6% passive stake in the online pet food and supply retailer.
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Disclosure with the U.S. Securities and Exchange Commission shows Gill owns about 9 million Class A shares, worth about $245 million based on Friday’s closing price. Shares of Chewy and Petco Health and Wellness Co. briefly climbed last week after Gill posted a cartoon image of a dog on X.
A representative for Chewy did not immediately respond to a request for comment from Bloomberg News outside of normal business hours.
Gill, who rose to fame in 2021 by rallying retail traders around GameStop Corp., returned to social media earlier this year, sparking a volatile period for GameStop and other so-called meme stocks.
The video game retailer and pet food company both have one thing in common: Ryan Cohen, co-founder of Chewy and current CEO of GameStop. GameStop shares fell 5.7% in pre-market trading Monday after Gill’s information was released.
The filing Monday lists June 24 as the date of the event and contains a tongue-in-cheek reference to Gill’s Roaring Kitty character. The document submitted to the SEC’s Edgar database of corporate filings includes a section for the person making the report to “indicate whether you are a cat.” It’s followed by two check boxes, one that says “I am a cat” and the other — which is marked — that says “I am not a cat.”
(Updated with more details on the case.)
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