On Thursday afternoon, Chewy and Petco Health and Wellness Company shares experienced a surge. This was due to the influence of Keith Gill, also known as “Roaring Kitty,” who posted an image of a dog on his X account. Chewy’s shares reached a high of $35.75 per share, while Petco briefly surged to $3.66 per share. However, both companies saw their gains diminish as the market closed for the day.
The rally in GameStop shares began around 1:00 p.m., when Gill shared an image of a man holding a video game controller on social media. GameStop shares soared by 74% after this post, and saw another increase when Gill revealed his significant stake in the company. Despite a 47% drop in GameStop shares since June, they saw a 3% uptick on Thursday. Gill currently holds 9 million GameStop shares, making him one of the top holders of the company’s stock.
Keith Gill has become known for his influence on stock prices after reviving GameStop shares earlier this year with his involvement in social media campaigns and buying sprees. His impact has extended beyond GameStop, as seen with the surge in Chewy and Petco Health and Wellness Company shares on Thursday afternoon.