The filing showed Roaring Kitty, whose legal name is Keith Gill, bought just over 9 million shares — amounting to a 6.6% stake in the company.
popped in the premarket trading Monday after a Securities and Exchange Commission filing showed meme stock trader "Roaring Kitty" took a stake in the pet food e-commerce retailer.showed Roaring Kitty, whose legal name is Keith Gill, bought just over 9 million shares — amounting to a 6.6% stake in the company. That makes him the third-biggest Chewy shareholder, according to FactSet. Based on Friday's close, that stake is valued at more than $245 million.
There's a big connection between GameStop and Chewy. GameStop CEO Ryan Cohen was the founder and CEO of Chewy, who was instrumental in PetSmart's takeover of Chewy in 2017 and its subsequent initial public offering in 2019. Cohen joined the GameStop board of directors along with two other Chewy executives in January 2021, partly helping fuel the initial GameStop rally. He later took over as GameStop CEO in 2023, leading a turnaround in the brick-and-mortar video game retailer., Gill said GameStop is in the second stage of a reinvention, and it has become a bet on Cohen himself, who's been leading a turnaround and pivot to e-commerce.
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