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Roaring Kitty reveals stake in Chewy big enough to make him 3rd largest investor in the pet retailer

The logo for Chewy appears above trading posts on the floor of the New York Stock Exchange, June 14, 2019. Shares for Chewy jumped in premarket trading early Monday, July 1, 2024, after a regulatory filing disclosed that Roaring Kitty, an investor at the center of the meme stock craze, had taken a 6.6% stake in the online pet retailer. Associated Press File Photo

NEW YORK — Shares of Chewy fell Monday in volatile trading after a regulatory filing revealed that Roaring Kitty, an investor at the center of the meme stock craze, has taken a 6.6% stake in the online pet retailer.

Roaring Kitty, whose legal name is Keith Gill, bought more than 9 million shares of Chewy last week, the Securities and Exchange Commission filing shows. Based on Friday’s $29.05 closing price, that amounts to a value of over $261 million — making him the company's third-largest shareholder.

Shares in Chewy jumped more than 20% before the opening bell. But they ended the day down almost 7%.

Chewy, based in Plantation, Fla., did not immediately respond to a request for comment.

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