Pre-market surged by 29%! Leading pet food company Chewy confirmed as the new favorite of "Roaring Kitty"

According to the financial news app Zhitong Finance, online pet food and pet-related product retailer Chewy Inc (CHWY.US) saw its stock price surge by about 29% in pre-market trading on Monday in the US stock market. Keith Gill, also known as "Roaring Kitty," who is known as the "big brother of US retail investors," disclosed that he holds approximately 6.6% passive stake in this pet food retailer. At the time of writing, the stock's gain has narrowed to 11%.

It is understood that the shareholding information disclosed on the official website of the US Securities and Exchange Commission shows that Gill owns about 9 million Class A shares, with a total value of approximately $245 million based on Friday's closing price. Last week, after Gill posted a cartoon image featuring a dog on social media platform X (formerly Twitter), the stock prices of Chewy and Petco Health and Wellness (WOOF.US) experienced a short-term surge. The disclosure of shareholding completely confirmed the market's speculation about "Roaring Kitty" holding Chewy shares.

Outside of regular business hours, a representative of Chewy did not immediately respond to media requests for comments.

Keith Gill, known by the online alias "Roaring Kitty," was active in posting on the Wallstreetbets subreddit on Reddit three years ago, encouraging a large number of US retail investors to enter the game retailer GameStop (GME.US) that was heavily shorted by multiple Wall Street investment firms. This sparked the globally shocking "retail investors squeeze Wall Street," a financially significant event in history. In this retail investors versus Wall Street battle, top hedge fund institutions like Melvin Capital declared bankruptcy after their short positions in meme stocks were liquidated.

Earlier this year, "Roaring Kitty" Gill returned to social media platforms, bringing a period of significant gains and intense volatility to other so-called "meme stocks" in the US market such as GameStop and AMC Theatres (AMC.US). However, the reality proved that even after a three-year hiatus, returning to the YouTube live platform, the wave of crazy meme stock trading brought by "Roaring Kitty" cannot be compared to the Wall Street squeeze period three years ago It is worth noting that the hottest "meme stock" targets - the electronic game retailer GameStop and this pet food company have one thing in common - Ryan Cohen, co-founder of online pet food retailer Chewy and current CEO of GameStop. After Gill's position disclosure was announced, GameStop's stock price fell by about 6% in pre-market trading on Monday.

According to reports, the Chewy position filing disclosed on Monday listed June 24 as the date of the event and jokingly mentioned Gill's character "Roaring Kitty". In the documents submitted to the U.S. Securities and Exchange Commission's Edgar corporate filings database, there is a section that can be described as "playful", which asks the reporter to "specify whether you are a cat". Following this are two checkboxes, one saying "I am a cat" and the other saying "I am not a cat".

Chewy is a leading company in the online pet food and supplies market in the United States, occupying an important position in the pet food market with its wide range of products, innovative services, and high-quality customer experience. The company's continued growth and market expansion strategies have ensured its leading position in the pet food and supplies sector. Chewy not only offers traditional pet food and supplies but has also innovated in the field of pet health insurance and medical services. In 2022, Chewy launched the CarePlus pet health insurance plan and in 2023 introduced Chewy Vet Care, which includes services such as routine check-ups, emergency care, and surgeries