Roaring Kitty reveals stake in Chewy big enough to make him 3rd largest investor in the pet retailer

Shares of Chewy are volatile in early trading after a regulatory filing revealed that Roaring Kitty, an investor at the center of the meme stock craze, has taken a 6.6% stake in the online pet retailer. Roaring Kitty, whose legal name is Keith Gill, bought more than 9 million shares of Chewy last week, the Securities and Exchange Commission filing on Monday shows. Based on Friday’s $29.05 closing price, that amounts to a value of over $261 million — making him the company’s third-largest shareholder. Shares jumped more than 20% before the opening bell. After rising 5% when markets opened, shares of Chewy Inc. slipped 3%.