- Roaring Kitty (Keith Gill) filed with the SEC disclosing a 6.6% ownership stake in Chewy
- The filing reveals Gill owns over 9 million shares of Chewy’s Class A common stock
- Chewy’s stock rallied as much as 34% after the filing was made public, with Gill’s stake valued at $245 million
Keith Gill, the trader better known by his online persona Roaring Kitty, has turned heads once again in the investing world. This time, the focus is not GameStop but rather Chewy, the online pet product retailer.
Who is Roaring Kitty?
Roaring Kitty, real name Keith Gill, gained fame and notoriety for his instrumental role in the epic short squeeze of video game company GameStop (GME) back in 2021. His insightful and bullish analysis of GameStop on Reddit and YouTube is credited with helping drive massive stock price gains.
After lying low for a few years, Roaring Kitty reemerged in May 2022, once again active on social media. Now he has filed disclosure forms with the SEC showing ownership of 6.6% of Chewy’s (CHWY) shares outstanding.
Details of the Chewy Filing
On June 28th, Roaring Kitty filed a 13G form with the Securities and Exchange Commission. This filing discloses ownership stakes greater than 5% in public companies.
Specifically, the filing shows Gill owning over 9 million shares of Chewy’s Class A common stock. With Chewy’s current market cap, this stake is valued at approximately $245 million.
The SEC filing does not suggest Gill intends to take an active role in Chewy like he did with GameStop. However, the market still reacted strongly to the news of his ownership. Chewy’s stock price rose as much as 34% intraday when the filing became public.
Chewy’s Outlook
While Roaring Kitty’s motivations remain unknown, Chewy has strong fundamentals. The company carved out a leading position in the high-growth online pet products industry.
Revenues have expanded consistently, reaching $8.9 billion in 2021. Although Chewy remains unprofitable, it holds promise as a long-term growth stock.
Roaring Kitty is betting big on Chewy’s future. His track record suggests investors should keep an eye on this pet retailer. Where Roaring Kitty goes, the market often follows.
