This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
After a hiatus of more than two months, Keith Gill — known more famously on Reddit as Roaring Kitty — has seemingly ended his brief love affair with Chewy, an online retailer of pet food and related products, and is apparently laying the groundwork to engineer another rally in GameStop shares.
As a refresher, in late June, Roaring Kitty posted a cartoon of a dog that resembled the Chewy emblem, precipitating a sharp rise in the online pet retailer’s stock.
Then, on July 1st, the OG meme stock veteran filed a lawsuit Form 13G with the SEC, disclosing a 6.6 percent share (9.001 million shares) in Chewy. Since then, the stock has been largely flat and has failed to produce the booming gains needed to justify Roaring Kitty’s outsized stake in Chewy.
Keep in mind that Chewy was founded by current GameStop CEO Ryan Cohen, creating a plausible, if tenuous, link between the two entities.
HE’S BACK
He sold $CHWY ?? photo.twitter.com/vAmnKr3J8P
— RoaringKittyTracker (@kittytrcker) September 6, 2024
This brings us to the crux of the matter. Roaring Kitty published a post X on Friday night that hinted at her intention to ditch Chewy.
Of course, if this is indeed the case, Roaring Kitty will have to file a new disclosure with the SEC. At the time of this writing, such a disclosure is yet to materialize.
Roaring Kitty aka Keith Gill aka DeepFuckingValue is back on Twitter making memes that he’s potentially broken up with $CHWYChewable.
Coincidentally, there were tons of $GMEGameStop activity, but also many purchases of 5000 units $GME in dark pools at UW.
Is Kitty back?
I scream… photo.twitter.com/UDV7st1gpq
— unusual whales (@unusualwhales) September 6, 2024
At the same time, GameStop shares are now seeing heightened activity, particularly in the form of 5,000-share blocks.
$GME still seeing blocks of dark pool shares arriving after hours #GME photo.twitter.com/xEpNNvYjwN
— Wolf of My Street🏡 (@Ryan__Rigg) September 6, 2024
Of course, the fact that this buying activity is originating from dark pools lends credence to the hypothesis that a financial whale may be trying to get ahead of Roaring Kitty’s potential GameStop-related moves. On the other hand, the OG meme stock veteran may simply be employing these dark pools to try and hide his proverbial breadcrumb trail.
At the time of publication, the dedicated Roaring Kitty position disclosure topic on Reddit has not yet posted any updates.