July 19, 2024

Brighton Journal

Complete News World

Chewy jumped after merchant Roaring Kitty posted a picture of a cartoon dog.

Chewy jumped after merchant Roaring Kitty posted a picture of a cartoon dog.

An illustration of the Chewy logo appears on a smartphone and computer screen.

Buffalo Gonchar | SOPA Photos | Lightrocket | Getty Images

Shares of Chewy rose significantly on Thursday after Roaring Kitty, one of the biggest meme stocks, posted an image on social media platform X that resembled the online pet food retailer’s logo, but the gains were quickly erased later in the session.

Roaring Kitty, whose legal name is Keith Gill, has been stirring up speculation in names like GameStop by posting cryptic images and memes online. An image of the cartoon dog appeared on X’s website Thursday afternoon, briefly sending Chewy shares up as much as 34% to $39.10.

The stock later fell into negative territory again in Thursday’s session, down 0.5%.