CHWY Taking a 6.6% bite out of Chewy stock
Gill’s investment in Chewy demonstrates Roaring Kitty satire and could set Chewy up as the next potential GameStop.
The Schedule 13G filing with the SEC provides detailed information about Gill’s ownership of Chewy, filed under Rule 13d-1(c) — noting Gill’s sole voting and dispositive power over 9,001,000 shares.
This filing type is typical for investors who own more than 5% of a company’s shares but do not intend to exert control over the firm’s direction.
In this particular filing, Gill humorously confirms in a unique checkbox that he is not a cat. Chewy repercussions
Gill’s investment in Chewy could reflect a more strategic approach as the pet-related products retailer begins to focus on market expansion and improved product offerings.
As with the GameStop saga, Gill’s involvement has the potential to draw attention to Chewy from investors as the filing becomes increasingly public and the satire increasingly apparent.
Related: Roaring Kitty buys another 4M GME stocks, birthing conspiracy theory
Don’t be a menace to SEC central
Gill’s recent reappearance on May 13 as his famed vigilante investor alter ego, Roaring Kitty, has created volatility ripples through crypto and stock markets.
Solely from his return to the space, GameStop stock went up from roughly $17.46 to $48.75 per share a day later on May 14.
Gill is currently facing a class-action lawsuit for his recent social media posts, but a former federal prosecutor stated that they believe the lawsuit is “doomed” to fail.
The class-action lawsuit was filed on June 28 in the U.S. District Court for the Eastern District of New York and intends to sue Gill for a “pump and dump” scheme.
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