Chewy's stock registers longest winning streak on record following cryptic Roaring Kitty post

By James Rogers

Chewy is extended its winning streak to seven days, its longest winning streak on record, Dow Jones Market Data show

Chewy Inc.'s stock is on pace to extend its winning streak to seven days less than two weeks after influential trader Keith Gill, also known as Roaring Kitty, made a cryptic post on X featuring the image of a dog.

Shares of the online retailer of pet food and products ended Monday's session up 2.2%, registering the stock's longest winning streak on record, based on available data going back to June 14, 2019, Dow Jones Market Data show. The stock, which closed at $32.67, also registered its highest close since Aug. 3, 2023, when it closed at $32.77.

Short interest as a percentage of Chewy's (CHWY) public float of shares is 10.9%, according to the latest exchange data.

Related: GameStop, AMC stocks rise as 'Roaring Kitty' makes first social-media post in 2 months

Gill made his first social-media post in two months on Sept. 6. In the post on X, formerly Twitter, Gill posted a still from the scene in the movie "Toy Story 2" in which the toy named Woody is dropped by the character Andy. The same dog image that was used in Gill's last post on June 27 is superimposed over Woody's face.

The still comes from a nightmare sequence in the 1999 animated film. In recent years, the image has become a meme dubbed "I don't want to play with you anymore" and has been used to illustrate mass abandonment of video games, according to the website Know Your Meme.

Observers speculated that Gill's June 27 post could be a reference to Chewy, prompting that company's stock to briefly surge. It was subsequently revealed that Gill was holding a significant position in Chewy.

Related: Chewy's stock soars after profit beats by a wide margin and company offers upbeat guidance

Last month Chewy's stock soared after the company reported better-than-expected second-quarter earnings and gave upbeat guidance.

Chewy shares are up 38.3% in 2024, outpacing the S&P 500's SPX gain of 18.1%.

-James Rogers

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09-16-24 1643ET

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