Chewy stock spikes after 'Roaring Kitty' posts cryptic picture of dog on X
06/28/2024 00:45Chewy stock soared after a cryptic tweet from a popular meme stock investor on Thursday.
Chewy (CHWY) stock rose as much as 30% on Thursday after the X account linked to investor Keith, Gill, "Roaring Kitty," posted a picture of a dog.
Posts on the account tied to investor Keith Gill, also known as "Roaring Kitty" on social media, have been driving up shares of Gamestop (GME) over the past month.
While that meme trade had largely gone quiet over the past week, the account's tweet at 1 p.m. ET sent shares of Chewy rocketing higher. The stock relinquished gains and sat up about 10% 30 minutes after the initial tweet.
Gill recently recently talked glowingly about during a YouTube livestream about GameStop CEO Ryan Cohen, who is also the founder of Chewy.
Gill explained his large position in Gamestop was a "bet on the management."
"In particular, of course, Ryan f***ng Cohen. Ryan Cohen and his crew," Gill said. "That's what folks should be focused on," Gill said.
Other pet stocks also caught a bid following the tweet, with shares of both Petco (WOOF) and PetMed Express (PETS) rising following the tweet.
Notably, GameStop, which had previously moved higher off Keith Gill's reemergence, was up just 5% on the day, little changed after the tweet.
This is a breaking news post and will be updated with further reporting.
Josh Schafer is a reporter for Yahoo Finance. Follow him on X @_joshschafer.
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