On Thursday, Chewy and Petco stocks experienced a surge, with Chewy’s stocks rising as much as 28% and Petco’s briefly surging 13%. The gains in both stocks were influenced by a social media post from meme trader Keith Gill, also known as “Roaring Kitty.” As the market approached closing, the gains in both stocks were partially pared down.
Gill’s influence on stock prices was previously seen when he posted about GameStop, leading to a 74% surge in shares. Since then, he has increased his stake in GameStop to 9 million shares, making him one of the top shareholders. Despite recent fluctuations in GameStop shares, which have dropped 47% since early June, they saw a 3% increase on Thursday. Gill’s social media activity continues to have an impact on stock prices, with investors closely following his posts for potential investment opportunities.