“Chewy shares fall nearly 7% as the boost from Roaring Kitty’s new stake diminishes” [UPDATED MON, JUL 1 2024]
July 8, 2024
“…The filing showed Roaring Kitty, whose legal name is Keith Gill, bought just over 9 million shares — amounting to a 6.6% stake in the company. That makes him the third-biggest Chewy shareholder, according to FactSet. Based on Friday’s close, that stake is valued at more than $245 million…
…The stock rallied more than 9% on Monday, but it quickly fell into negative territory in morning trading. Shares ended the day down 6.6%…”