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Roaring Kitty bought $245mm of Chewy; GME down 6% while Chewy is up 10%
Posted on 7/1/24 at 7:11 am
Posted on 7/1/24 at 7:11 am
CNBC
quote:
The filing showed Roaring Kitty, whose legal name is Keith Gill, bought just over 9 million shares — amounting to a 6.6% stake in the company. That makes him the third-biggest Chewy shareholder, according to FactSet. Based on Friday’s close, that stake is valued at more than $245 million.
The SEC filing also included a section that read: “Check the appropriate box to designate whether you are a cat.” There was an “x” next to a response that read: “I am not a cat.” This line was included in Gill’s statement in a series of congressional hearings about 2021's GameStop trading mania.
6
Posted on 7/1/24 at 7:13 am to slackster
Is he a fund manager now? Where did he get that sort of money? I thought he made around $50 mil the first go around of GME?
Posted on 7/1/24 at 8:03 am to baldona
No, I think he is around 500 million
Posted on 7/1/24 at 8:40 am to BCreed1
Goodness, where did he make all his money? I swear I thought he made like $47 mil or something like that off that initial GME fiasco, did he turn that into $500 mil in a couple years?
Posted on 7/1/24 at 8:47 am to baldona
quote:
Goodness, where did he make all his money? I swear I thought he made like $47 mil or something like that off that initial GME fiasco, did he turn that into $500 mil in a couple years?
That's I don't know.
Posted on 7/1/24 at 9:42 am to baldona
He showed his position on a live stream and he had almost 300m. With it getting another pop, they were expecting him to become a billionaire. It didn’t happen, but apparently he’s got much more than what he posted. That and he’s probably managing some other people’s money too.
The market becomes crazy when guys like this or “Zack Morris” can make a stock surge just by announcing they bought it.
The market becomes crazy when guys like this or “Zack Morris” can make a stock surge just by announcing they bought it.
Posted on 7/1/24 at 9:46 am to Tigerfan14
quote:
The market becomes crazy when guys like this or “Zack Morris” can make a stock surge just by announcing they bought it.
But that has always been true for berkshire, blackrock or any bigtime hedge fund manager. They control so much $ that everything they say causes market reactions.
Posted on 7/1/24 at 9:50 am to Tigerfan14
quote:
apparently he’s got much more than what he posted. That and he’s probably managing some other people’s money too.
Yes, that possibility and also he has access to margin borrowing. I don’t believe that has to be disclosed publicly. We also don’t know what derivative positions he’s holding (or hedging).
Posted on 7/1/24 at 9:57 am to Jag_Warrior
He first posted his positions after the pump he caused in May so he could have tripled his money or more on that May pump.
This post was edited on 7/1/24 at 9:58 am
Posted on 7/1/24 at 9:59 am to slackster
Chewy is a great company, it's where I get my dog good. Amazed how they made it so to speak.
Posted on 7/1/24 at 10:12 am to slackster
Not enough for 500 mil but he probably got a lot of royalties from the dumb money movie.
Posted on 7/1/24 at 10:20 am to notsince98
quote:
But that has always been true for berkshire, blackrock or any bigtime hedge fund manager. They control so much $ that everything they say causes market reactions.
It has, but it is very different. Social media has accelerated it a ton and it’s taking advantage of the average American who is trying to get rich quick. Now, you’ve got some shitty companies with good technicals that get pumped and dumped with a bunch of people holding the bag.
If Buffett says buy $KO, he’s doing it as a long term investment. Not to get a 20% pop then sell all of his shares. That’s the difference in the two.
Posted on 7/1/24 at 11:34 am to Tigerfan14
But you also had that hedge fund dude on cnbc during the height of covid saying the world might end. He drove the stock market down while his fund bought aggressively.
This post was edited on 7/1/24 at 11:35 am
Posted on 7/1/24 at 11:44 am to Billy Blanks
quote:
Chewy is a great company, it's where I get my dog good. Amazed how they made it so to speak.
I like them. They have some items that are hard to find, and their customer service is good.
Posted on 7/1/24 at 12:05 pm to Tigerfan14
quote:
If Buffett says buy $KO, he’s doing it as a long term investment.
and buffett is still saying that so people will go out and buy it, drive up the price and make him money.
Posted on 7/1/24 at 12:17 pm to notsince98
It feels like they will get roaring kitty in the cross hairs sooner or later
Posted on 7/1/24 at 1:07 pm to slackster
I was confused by this too when I saw the article. Where in the world did he get hundreds of millions of dollars. His GME earnings didn’t ever go above $75million from what I saw.
This has to be someone else’s money. He did not make $300million from GME. And even if he did, who tf would 82% of their net worth on dog food
This has to be someone else’s money. He did not make $300million from GME. And even if he did, who tf would 82% of their net worth on dog food
Posted on 7/1/24 at 1:25 pm to Zzyzx
I’m fairly clueless and out of touch, but I don’t think you can or he is posting a business account screen shots? If he is posting it would have to be his own personal account?
I haven’t really been paying attention but did he really go from $50 mil to $500? That’s truly incredible if so.
I’d love to see the math and data on how he did it.
His problem now though, is that he’s no longer the little guy and his followers are going to turn on him with a quickness if he makes $100 mil when they lose money.
I haven’t really been paying attention but did he really go from $50 mil to $500? That’s truly incredible if so.
I’d love to see the math and data on how he did it.
His problem now though, is that he’s no longer the little guy and his followers are going to turn on him with a quickness if he makes $100 mil when they lose money.
Posted on 7/1/24 at 7:39 pm to notsince98
quote:
and buffett is still saying that so people will go out and buy it, drive up the price and make him money.
Sure he is, but that’s not my point. He’s been a longtime investor in Coca-Cola and will tell you he loves the stability of the company and the dividend. He’s got actual business reasons for investing and promoting it. The guys that I mentioned earlier are promoting stocks knowing it is a shite company but seeing a good opportunity in the technicals if they get enough followers to buy.
A lot of people lost a shite ton of money following those guys, not many people lost a shite ton of money following Buffett. Here’s a link to the fraud
Here’s the charges he was indicted on.
quote:
According to the indictment, the defendants collectively had over 1.5 million followers on Twitter to whom they allegedly disseminated false and misleading information about the securities that they pumped and dumped as part of the charged scheme.
Posted on 7/2/24 at 6:24 am to thelawnwranglers
quote:
It feels like they will get roaring kitty in the cross hairs sooner or later
Hopefully he has absolutely no involvement with NYC in anyway or he’ll be James’ next political prosecution. I’m amazed she hasn’t targeted Fox News and employees yet. It’s coming.
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