What's Going On With Chewy Stock Today?
Portfolio Pulse from Erica Kollmann
Chewy, Inc. (NYSE:CHWY) shares are trading lower amid increased volatility after Keith Gill, known as Roaring Kitty, disclosed a 6.6% stake in the company. Despite initial gains, the stock ended Monday 6.61% lower and continues to decline on Tuesday. Citron Research questioned the source of Gill's investment funds, adding to the uncertainty.
July 02, 2024 | 4:45 pm
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Chewy shares are experiencing increased volatility after Keith Gill disclosed a 6.6% stake. Despite initial gains, the stock ended Monday 6.61% lower and continues to decline. Citron Research's questioning of Gill's funding adds to the uncertainty.
The disclosure of Keith Gill's 6.6% stake initially boosted Chewy's stock, but the gains were short-lived as the stock ended Monday significantly lower. Citron Research's skepticism about the source of Gill's investment funds has added to the negative sentiment, leading to further declines on Tuesday.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100