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Keith Gill, better known as Roaring Kitty, is reportedly preparing to exit his Chewy position and refocus on GameStop. The renowned meme-stock trader hinted at his return to GameStop through a recent social media post, sparking speculation about another market rally.
Roaring Kitty Exits Chewy Stake After Flat Performance, Signals Potential Return to GameStop
Keith Gill, also known as Roaring Kitty on Reddit, appears to have concluded his brief relationship with Chewy, an online retailer of pet food and related products, after a more than two months hiatus. He is reportedly preparing to engineer another stock market rally in GameStop, per Wccftech.
Roaring Kitty's shares significantly increased in value after June when a cartoon caricature of a dog resembling Chewy's emblem was published..
Subsequently, on July 1, the veteran of the OG meme stock filed a Form 13G with the SEC, revealing a 6.6 percent stake (9.001 million shares) in Chewy. Roaring Kitty's aberrant Chewy stake has not been justified by the stock's essentially flat performance since that time, which has failed to generate the necessary impressive gains.
Roaring Kitty Hints at Exiting Chewy as GameStop Activity Surges Amid Dark Pool Trades
It is important to remember that Ryan Cohen, the CEO of GameStop, founded Chewy, establishing a plausible ten-year connection between the two organizations.
This brings us to the essence of the issue. A post on X published by Roaring Kitty late on September 6 suggested that he intended to abandon Chewy.
If so, Roaring Kitty must submit a new disclosure to the SEC. At this time, a disclosure of this nature has yet to occur.
Simultaneously, GameStop shares are experiencing increased activity, particularly in 5,000-share blocks.
Naturally, the hypothesis that a financial behemoth is attempting to outpace Roaring Kitty's potential GameStop-related actions is supported by the fact that this purchasing activity is occurring in dark pools. Conversely, the meme-stock veteran of the original meme may utilize these dark pools to conceal his proverbial trail of fragments.
Roaring Kitty's devoted positions-disclosing thread on Reddit still needs to be updated as of publication.
