The latest post from influential trader Keith Gill, also known as Roaring Kitty, has been making waves on social media
A post on X by Keith Gill, the trader known as Roaring Kitty, sent shares of Chewy surging Thursday.
Shares of Chewy Inc. are down 10.2% Friday after spiking Thursday in the wake of a cryptic post from influential trader Keith Gill, also known as Roaring Kitty.
The post sparked speculation on social media that the dog image in the post was a reference to online pet-products retailer Chewy. That speculation has continued into Friday.
An X user who goes by @BadassTrader69 posted on the platform that the image used the same color code of blue as Chewy’s logo, saying it was “pretty f—ing compelling that he was talking about $CHWY.”
The user added: “This still doesn’t mean he bought it, could have just been a nod to it.”
On Thursday, another X user who posts as @BandoNFT also highlighted the color blue used in Roaring Kitty’s dog image.
“He used the exact same shade of blue as the logo,” @BandoNFT wrote on X.
Gill’s return to social media last month sent shares of original meme stock GameStop Corp. soaring. The stock surged again after a June 2 Reddit post from an account associated with Gill appeared to show him holding a big stake in the videogame retailer.
GameStop Chief Executive Ryan Cohen is the former CEO and co-founder of Chewy, hence the close scrutiny of Gill’s dog image.
Chewy shares are trading on volume of 6.05 million Friday, well below their 65-day average volume of 11.28 million. Short interest as a percentage of Chewy’s public float of shares is 14.9%.
“$CHWY looks interesting here,” an X user who goes by @Mr_Derivatives wrote Friday morning. “15% short interest. Only 133M float. Probably can be a GME 2.0 if WSB apes really get behind it.”
The WallStreetBets subreddit played an important role in the meme-stock frenzy of 2021 that sent shares of AMC Entertainment Holdings Inc. and GameStop skyrocketing. The investors who turned AMC into a meme stock often refer to themselves as “apes” or “ape nation.”
But another X user who goes by @RickyAnalog wrote that Roaring Kitty “just created some serious bag holders,” in a post on Thursday. “When will people learn?”
Roaring Kitty’s dog post also lifted shares of PetCo Health & Wellness Co. Thursday, and the stock is up 5.5% Friday. GameStop shares are up 1.9% and AMC is down 1%.
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