Chewy Slumps Even as Keith Gill Reveals $229 Million Stake
- Stake worth about $229 million based on Monday’s closing price
- Gill had posted a cartoon image of a dog on X last week
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Chewy Inc. shares erased gains after initially spiking as much as 10% on Monday as Keith Gill — known online as “Roaring Kitty” — disclosed a 6.6% passive stake in the online pet food and product retailer.
The disclosure with the US Securities and Exchange Commission shows Gill owns roughly 9 million Class A shares, worth about $229 million based on Monday’s closing price. Shares of Chewy and Petco Health and Wellness Co. briefly soared last week after Gill posted a cartoon image of a dog on X. Chewy has jumped about 70% since the start of May, but remains 79% below its 2021 peak.