Chewy stock pops 34% after Roaring Kitty posts a dog picture, then gives it all back [MSNBC.com]
GameStop Corporation (GME)
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Source: MSNBC.com
There's also a strong connection between meme stock GameStop and Chewy. GameStop CEO Ryan Cohen was the founder and CEO of Chewy, who was instrumental in PetSmart's takeover of Chewy in 2017 and its subsequent initial public offering in 2019.Cohen joined the GameStop board of directors along with two other Chewy executives in January 2021, partly helping fuel the initial GameStop rally. He later took over as GameStop CEO in 2023, leading a turnaround in the brick-and-mortar video game retailer.Shares in pet retailers such as Chewy and Petco saw big spikes during the pandemic when stuck-at-home consumers adopted cats and dogs in droves. With the adoptions came purchases of needed accessories such as new beds and leashes for their furry family members.But as the pandemic ended and people began venturing outside again, adoption numbers slowed and consumers had less need for discretionary pet items such as toys and cages, which carry higher profit margins than pet food.Over the past year
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- Meme fatigue may be a factor with GameStop and Chewy [Seeking Alpha]Seeking Alpha
- Specialty Retail Stocks Q1 Teardown: GameStop (NYSE:GME) Vs The Rest [Yahoo! Finance]Yahoo! Finance
- Chewy stock jumps after 'Roaring Kitty' post [Yahoo! Finance Canada]Yahoo! Finance Canada
- Chewy stock jumps after trader Roaring Kitty posts picture of cartoon dog [CNBC]CNBC
- Chewy stock spikes after 'Roaring Kitty' posts cryptic picture of dog on X [Yahoo! Finance Canada]Yahoo! Finance Canada
GME
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- 6/7/24 - Miss
GME
Sec Filings
- 6/20/24 - Form 8-K/A
- 6/18/24 - Form 8-K
- 6/14/24 - Form 4
- GME's page on the SEC website