Roaring Kitty is back after a two-month Twitter hiatus, with the meme stock influencer’s return causing the price GameStop (GME) to spike in value. But the post from the notorious meme stock influencer implies that he’s no longer interested in pet supplies retailer Chewy, causing its price to briefly plunge as a result.
After two months of silence, Roaring Kitty—aka Keith Gill—has returned with a meme referencing Pixar’s “Toy Story 2,” when the character Andy drops his toy cowboy Woody, saying “I don’t want to play with you anymore.”
The market apparently took this as a sign that Gill is dropping Chewy following his sizable investment this summer, with the price of CHWY stock falling 3.7% within just one minute. However, it has quickly recovered to around its previous value, according to Yahoo Finance.
Meanwhile, the price of GME leaped 8.2% in the 11 minutes that followed the Twitter post, according to Yahoo Finance, as the Roaring Kitty fandom anticipates what his return may mean for his beloved stock.
Gill, also known as DeepFuckingValue, gained notoriety in 2021 as he played a central role in the GameStop short squeeze, forcing billions of dollars in losses from hedge funds betting against the video game retailer’s stock. The event was later turned into a movie with Paul Dano starring as Roaring Kitty himself.
Earlier this year, the GameStop bull returned to social media after three years of inactivity to continue pushing the GME gospel. Soon, he started placing hints through cryptic memes that he was interested in American pet store Chewy Inc. causing its price to skyrocket.
In July, an SEC filing revealed that Roaring Kitty owned 6.6% of Chewy shares. However, it’s important to note that there are historical examples of investors spoofing filings to pump the price of assets. Despite this, CHWY’s value climbed as the market reacted to the news.
Edited by Andrew Hayward
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Source: https://decrypt.co/248265/gamestop-stock-spikes-roaring-kitty-dropping-chewy
