The stock price of online pet retailer Chewy experienced significant volatility on Monday after internet investor Keith Gill, also known as “Roaring Kitty,” revealed he had purchased a significant stake in the company. Chewy shares initially surged 11% but then fell 3%. Gill also faced a class-action lawsuit alleging he engaged in a “pump and dump” scheme with GameStop shares. GameStop, a company Gill previously invested in, is now run by Ryan Cohen, who also co-founded Chewy. Gill is being investigated by the secretary of state of Massachusetts. Cohen has not commented on any potential relationship with Gill. The overall market has been uncertain following Gill’s actions, with GameStop shares down 7% in pre-market trading. Gill has not made any immediate comments on the situation.
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Chewy’s stock prices soar as ‘Roaring Kitty’ trader reveals ownership in the company
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