Chewy stock jumps after 'Roaring Kitty' post

Shares of Chewy (CHWY) popped in afternoon trading after the X (formerly Twitter) account linked to investor "Roaring Kitty," whose real name is Keith Gill, posted a cartoon image of a dog.

Yahoo Finance anchor Josh Lipton and Alexandra Canal discuss the stock's reaction.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Stephanie Mikulich.

Video transcript

Well roaring kitty.

There you go is back at it again, best known, of course for sparking the gamestop led meme rally.

The ex user took to the social media site posting there it is a picture of the dog and shares of Chewy went soaring for a short period of time.

Uh Yeah, that that was it.

We had, we had a, we had Chewy pop on this Keith Gel, of course known around the world is roaring kitty did post that image.

I wish I had more to tell you on that alley that there was no company news or financial news.

I don't, I have an image, I have an image of a, of a dog and that, that did it.

That was enough.

Well, what's interesting to me is the Ryan Cohen piece of this all he is the CEO of Gamestop and we did hear Keith Gill when he did that youtube live stream a few weeks ago, he talked very positive about Ryan Cohen and Ryan Cohen.

Of course, is a founder of Chewy.

Now it wasn't just Chewy you're seeing on your screen.

Now, some of those other pet names that spiked on the news now, Petco is down at this point, but Petmed Express is still holding on to some gains there.

Uh It's just, you know, the meme stock trade, there's not much to say about it.

This is not based on fundamentals.

I'm not so prize that we saw these moves because of the following that Keith Gill and Roaring Kitty has.

Uh, but we'll, we'll, I don't think anything will hold here.

We'll see if he comes out with another live stream to has an army and he can move stock.

It's, it's remarkable because in 2021 I bet a lot of people thought this was like something that would kind of come and go.

But here we are all June.

June 2024.

We're still talking about it, Mr Gill.