Chewy and Petco shares experienced a surge on Thursday, with Chewy’s stocks rising as much as 28% and Petco’s briefly surging 13%. Both stocks saw gains after meme trader Keith Gill, also known as “Roaring Kitty,” posted a photo of a dog on his X account. As the market approached closing, the gains in both stocks were partially pared down.
The increase in stock prices came after Gill’s social media post, with Chewy trading at $35.75 per share at its peak and Petco reaching $3.66 per share. 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 the 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.