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After a hiatus of well over two months, Keith Gill - who goes by the more famous moniker of Roaring Kitty on Reddit - is apparently done with his brief love affair with Chewy, an online retailer of pet food and related products, and is seemingly laying the groundwork for engineering another pump in GameStop shares.
As a refresher, towards the end of June, Roaring Kitty posted a cartoon caricature of a dog that resembled Chewy's emblem, precipitating a fierce surge in the shares of the online retailer of pet-related items.
Then, on the 01st of July, the OG meme stock veteran filed a Form 13G with the SEC, disclosing a 6.6 percent stake (9.001 million shares) in Chewy. Since that time, the stock has been largely flat and has failed to produce the requisite rip-roaring gains that could justify Roaring Kitty's aberrant Chewy stake.
Bear in mind that Chewy was founded by the current CEO of GameStop, Ryan Cohen, creating a plausible if tenuous link between the two entities.
HE’S BACK
Did he sell $CHWY ?? pic.twitter.com/vAmnKr3J8P
— RoaringKittyTracker (@kittytrcker) September 6, 2024
This brings us to the crux of the matter. Roaring Kitty published an X post late on Friday that hinted at his intention to abandon Chewy.
Of course, if that is indeed the case, Roaring Kitty will have to file a new disclosure with the SEC. As of the time of writing, such a disclosure is yet to materialize.
Roaring Kitty aka Keith Gill aka DeepFuckingValue is back on Twitter, memeing he is potentially done with $CHWY, Chewy.
Coincidentally, there has been tons of $GME, GameStop activity, but also many 5000 sized buys in $GME in dark pools on UW.
Is the Kitty back?
Shoutout… pic.twitter.com/UDV7st1gpq
— unusual_whales (@unusual_whales) September 6, 2024
Concurrently, GameStop shares are now seeing elevated activity, particularly in the form of 5,000-share blocks.
$GME still seeing dark pool blocks of shares coming in during after hours #GME pic.twitter.com/xEpNNvYjwN
— Wolf of My Street🏡 (@Ryan__Rigg) September 6, 2024
Of course, the fact that this buying activity is originating in dark pools gives credence to the hypothesis that a financial whale might be trying to front-run Roaring Kitty's possible GameStop-related moves. On the other hand, the OG meme stock veteran might simply be employing these dark pools to try to hide his proverbial trail of crumbs.
As of the time of publication, Roaring Kitty's dedicated positions-disclosing thread on Reddit has yet to post any updates.
