Markets
Keith Gill Roaring Kitty
Yes, this guy.
Woof

Keith Gill doesn’t seem to like Chewy any more. No one cares.

Luke Kawa

Well, at least there’s not much mystery behind this meme.

At noon, Keith Gill, aka Roaring Kitty, tweeted a picture from Toy Story 2 of Woody being discarded by Andy with a dog’s head superimposed where the cowboy’s face should be.

In late June, Gill had tweeted a picture of a dog and sent shares of Chewy spiking higher by as much as 34% on the day. A filing to the Securities and Exchange Commission later revealed that he had purchased about 9 million shares of the pet e-commerce company, a 6.6% stake.

Today’s tweet of a meme often used to say “I don’t wanna play with you anymore” would seemingly imply that he’s throwing the stock to the dogs. But just as Gill’s June 27 tweet didn’t have a long-lived impact on the stock, neither does this micro-missive.

Since the time that Gill’s ownership of the company’s stock surpassed 5% (which triggered the filing), shares of Chewy are down a little more than 1%, broadly in line with the return for the S&P 500 over this period.

The eccentric value investor turned meme maestro came back to social media earlier this year after a long hiatus, and unleashed an avalanche of edited videos.

(I suspect the timing of his return had something to do with the dismissal of a lawsuit pertaining to Gill’s previous involvement in GameStop.)

Eventually, he went on a livestream to re-affirm that he liked the stock of GameStop, the embattled video game and collectibles retailer, and that his bet on the company was a bet on “Ryan fucking Cohen” — the current CEO of GameStop, who was the co-founder and former CEO of Chewy.

You can’t teach an old dog new tricks.

More Markets

See all Markets
markets

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

Latest Stories

Sherwood Media, LLC and Chartr Limited produce fresh and unique perspectives on topical financial news and are fully owned subsidiaries of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Money, LLC, Robinhood U.K. Ltd, Robinhood Derivatives, LLC, Robinhood Gold, LLC, Robinhood Asset Management, LLC, Robinhood Credit, Inc., Robinhood Ventures DE, LLC and, where applicable, its managed investment vehicles.