Chewy, Inc., the popular online pet product retailer, experienced a significant surge in its shares, climbing over 34% on Thursday. The sudden spike in stock value came following a post by Keith Gill, also known as ‘Roaring Kitty,’ a trader recognized for his involvement in meme stock rallies.
The catalyst for Chewy’s stock surge was an image of a cartoon dog that Gill shared on his social media platform. Co-founded by Ryan Cohen, who now serves as the CEO of GameStop, Chewy found itself at the center of the meme stock craze that has been sweeping through the market.
At 1:13 pm ET, Chewy’s shares had risen by 34.18%, reaching $39.10 per share. By 1:44 pm ET, the stock was still showing a strong performance, up by 6.6%.
Related to Chewy:
- Analysts set Chewy stock price target between $32 to $42 in July
- Chewy’s impressive 63.64% increase in New York IPO on June 14
- Chewy was indicated to be priced between $30 to $32.5 per share at NYSE on June 14
It’s important to note that the information regarding stock prices may be delayed by at least 15 minutes, in adherence to the regulations of the respective stock exchanges and licensors.
