Shares of Chewy (CHWY) rose as much as 30% on Thursday after the X account linked to investor Keith Gill, also known as “Roaring Kitty,” posted a photo of a dog.
Posts on Gill’s account have sent shares of GameStop (GME) soaring over the past month.
While that meme trade has been largely quiet over the past week, the account’s tweet at 1 p.m. ET sent Chewy’s stock skyrocketing. The stock gave away its gains and rose about 10% 30 minutes after the initial tweet.
Gill recently spoke highly of GameStop CEO Ryan Cohen, who is also the founder of Chewy, during a YouTube livestream.
Gill explained that his large position in GameStop was a “bet on management.”
“Specifically, of course, Ryan fucks Cohen. Ryan Cohen and his crew,” Gill said. “That’s what people need to focus on,” Gill said.
Other pet stocks also took a hit after the tweet, with shares of both Petco (WOOF) and PetMed Express (PETS) rising in afternoon trading.
Notably, GameStop, which had previously soared higher following Keith Gill’s re-emergence, rose just 5% on the day, with little changing after the tweet.
This is a current news story and will be updated with further news.
Josh Schafer is a reporter for Yahoo Finance. Follow him on X @_joshschafer.
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