Wall Street Breakfast
Roaring Kitty returns with Chewy stake and facing lawsuit
Jul 1, 2024
Keith Gill, aka Roaring Kitty, reveals a 6.6% stake in Chewy and faces a lawsuit. Topics include manufacturing activity decline, tech industry's nuclear power for AI, and valuation test for AI megacap stocks.
07:18
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Quick takeaways
- Keith Gill reveals 6.6% stake in Chewy, faces class action lawsuit related to pump and dump schemes.
- Tech industry explores nuclear power for AI data centers to meet rising energy demands, impacting emissions goals.
Deep dives
Roaring Kitty's $245 Million Position in Chewie and Securities Fraud Claims
Roaring Kitty, also known as Keith Gill, declared a $245 million stake in Chewie, causing a rally in the online retailer's shares. However, he faced securities fraud charges related to social media posts about GameStop's stock. The lawsuit alleges he engaged in pump and dump schemes by strategically posting about GameStop to influence its value, profiting from call options, and increasing his stake through undisclosed actions.
