Roaring Kitty Reveals 6.6% Stake in Chewy, Inc., Inviting GameStop-Style Investment Speculation
Summary:
Renowned investor Keith Gill, better known as Roaring Kitty from the GameStop saga, has revealed a 6.6% stake in online pet products retailer, Chewy, Inc. Gill's ownership of 9,001,000 shares of Chewy is detailed in a Schedule 13G filing with the U.S. Securities and Exchange Commission, asserting he is "not a cat". His strategic involvement hints at an investment approach akin to his GameStop venture, potentially steering investor attention towards Chewy.
Keith Gill, renowned as Roaring Kitty and DeepFuckingValue in the GameStop story, revealed that he holds 6.6% stock in Chewy, Inc. The June 24 filing to the U.S. Securities and Exchange Commission (SEC), Schedule 13G, shows Gill, as a private investor, has 9,001,000 shares of Chewy’s Class A common stock in his possession. Gill humorously asserts in the document that he is "not a cat".
Taking ownership of 6.6% of Chewy's stock signals another potential GameStop-style investment by Gill in the online retailer specializing in pet food and pet-related products. Detailed information about Gill’s Chewy ownership is specified in the Schedule 13G form filed with the SEC, according to Rule 13d-1(c): Gill holds exclusive voting and dispositive power over the 9,001,000 shares.
This sort of filing is common for investors who own over 5% of a company's shares but don't aim at manipulating the company's course. In this unique filing, Gill humorously confirms via a checkbox that he is not a cat.
The strategic nature of Gill's investment might begin to show as Chewy starts to concentrate on enlarging market share and refining product range. Similar to the GameStop event, Gill's involvement might invite investor interest in Chewy, particularly as the filing becomes more public and the humor more noticeable.
Gill's reappearance on May 13 as his famous alternate identity, Roaring Kitty, has sent shockwaves through the cryptocurrency and stock markets. As a direct result of his return, GameStop's stock rose from approximately $17.46 to $48.75 per share the next day, May 14.
Published At
7/1/2024 2:24:00 PM
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