Roaring Kitty has dissolved his holdings in Chewy, but meme stocks are alive and well

  • 📰 wjxt4
  • ⏱ Reading Time:
  • 56 sec. here
  • 5 min. at publisher
  • 📊 Quality Score:
  • News: 36%
  • Publisher: 63%

U.S. News News

Ryan Cohen,Business,Elon Musk

A pivotal actor in the meme stock craze the began during the pandemic continues to hold a powerful sway over the movement of shares in major U.S. corporations.

Students, parents plead for Young Men‘s and Women’s Leadership Academy to stay open amid proposed DCPS plan

Read full article: On-off girlfriend named person of interest in case of missing man found buried in rural St. Johns County: investigatorsKeep your drink cold longer with these tumblers. See more Insider Deals here.

As with other Gill investments, he had been dropping potential hints on X. In early September, he posted an image from the “Toy Story” film franchise of a child dropping a toy with the face of a dog superimposed on its head. Chewy uses dogs in a lot of its marketing materials.In its most recent quarter, Chewy topped Wall Street earnings expectations and its revenue rose 2.6%.

A short squeeze is a relatively rare event that can yield eye-popping profits for people riding the wave. When investors bet a stock's price will go down in the future, they “short” it by borrowing shares and selling them. Later, if the price does indeed fall, theGameStop in March had roughly 305.9 million shares of its stock trading in the market, more than four times the number of shares it had in March 2021. That means it is more difficult to move stocks like GameStop on momentum alone.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 246. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks making the biggest moves midday: Norwegian Cruise Line, Reddit, Chewy, Boeing and moreThese are the stocks posting the largest moves in midday trading.
Source: CNBC - 🏆 12. / 72 Read more »