Keith Gill, also known as Roaring Kitty and DeepFuckingValue from the GameStop trading saga, has officially revealed that he owns a 6.6% stake in Chewy, the online retailer specializing in pet food and other pet-related products. This disclosure was made in a Schedule 13G filing with the United States Securities and Exchange Commission (SEC) on June 24. As an individual investor, Gill holds 9,001,000 shares of Chewy’s Class A common stock.
In order to avoid any confusion, Gill humorously clarifies in the filing that he is “not a cat.” The SEC filing, which is in accordance with Rule 13d-1(c), provides detailed information about Gill’s ownership of Chewy and highlights his exclusive voting and dispositive power over the 9,001,000 shares. This type of filing is commonly used by investors who hold more than 5% of a company’s shares but have no intention of exerting control over its operations.
Gill’s investment in Chewy is seen as a continuation of his satirical approach, reminiscent of his involvement in the GameStop phenomenon. It also has the potential to bring attention to Chewy from other investors as the filing gains more publicity and the satire becomes increasingly evident.
Moreover, Gill’s investment in Chewy may indicate a more strategic approach as the pet product retailer focuses on expanding its market presence and enhancing its product offerings. Similar to the GameStop saga, Gill’s involvement could have a significant impact on Chewy’s future, attracting investor interest and potentially influencing its stock performance.
Gill’s recent comeback as Roaring Kitty on May 13 has already caused volatility in both the crypto and stock markets. Just from his return, GameStop’s stock price surged from approximately $17.46 to $48.75 per share on May 14. Currently, Gill is facing a class-action lawsuit for his social media posts, but legal experts believe that the lawsuit is unlikely to succeed.
In summary, Keith Gill’s ownership in Chewy demonstrates his continued involvement in satirical investments and has the potential to shape the future of the pet retailer. As he gains attention through his public filings and social media presence, Gill’s influence on the stock market remains significant.