Roaring Kitty post of a dog sparks brief rally in shares of Chewy and Petco
AP Photo/Richard Drew
- Chewy and Petco shares spiked briefly on Thursday after Keith Gill posted a dog on his X account.
- Chewy shares were up as much as 28%, while Petco shares surged as much as 13%.
- Both stocks had pared the gains as the market headed to the closing bell.
Chewy and Petco Health and Wellness Company shares enjoyed a fleeting rally on Thursday after Keith Gill, the meme trader known by his online moniker "Roaring Kitty," posted a picture of a dog on his X account.
— Roaring Kitty (@TheRoaringKitty) June 27, 2024
The petcare stocks spiked around 1:00 p.m. as Gill posted the image. Chewy was up as much as 28% to trade at $35.75 a share before paring the gain, while Petco briefly surged 13% to trade at $3.66 a share.
Gill revived interest in GME overnight earlier this year after he posted a picture of a man leaning forward in a seat holding a video game controller, which sent GameStop shares soaring 74%.
Shares soared again when the famous retail trader posted screenshots on his Reddit account, which revealed he owned 5 million shares of GameStop stock. He's since nearly doubled his stake to 9 million shares and is among the top holders of the video game retailer's stock.
GameStop shares have plunged 47% since early June, but ticked higher 3% on Thursday.