On Thursday, both Chewy and Petco experienced a surge in their stock prices. Chewy’s stocks rose as much as 28%, while Petco briefly surged 13%. The gains were made after meme trader Keith Gill, also known as “Roaring Kitty,” posted a photo of a dog on his X account. Despite the recent fluctuations in GameStop shares, which have dropped 47% since early June, they saw a 3% increase on Thursday.
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. Investors closely follow Gill’s social media activity for potential investment opportunities. As the market approached closing, the gains in both stocks were partially pared down.