From CNBC: 2024-06-27 14:40:46

Chewy shares surge as meme stock leader Roaring Kitty posts cryptic image resembling logo on social media platform X, driving stocks up 34%. GameStop CEO Ryan Cohen, founder of Chewy, joins board, leading a turnaround. Pet retailers see spike in sales during pandemic, but sales of higher margin items decrease as pandemic ends. Former marketer Keith Gill, aka Roaring Kitty, gains fame for GameStop squeeze in 2021, sparking congressional hearings on retail trading.

Read more: Chewy jumps after trader Roaring Kitty posts picture of cartoon dog