Chewy is the biggest online retailer of pet products. Pets are common in U.S. households, and the amount people spend on them is growing rapidly. The American Pet Products Association forecasts that Americans will spend over $150 billion on their pets this year, up from $90 billion in 2018.

Stock influencer Keith Gill, known as "Roaring Kitty," unveiled a 6.6% stake in Chewy on Monday, a surprise move that alarmed executives at the U.S. pet products company.

Keith Gill is back, buying more stock in GameStop and building a stake in Chewy. But not everyone seems happy to see the share price influencer and disruptor return.

With his 6.6% stake in Chewy Inc., influential trader Keith Gill — also known as Roaring Kitty — sent shares of the online pet-products retailer briefly soaring earlier this week, adding to its meme-stock status.

Shares of online pet products retailer Chewy went on a wild ride Monday after Keith Gill, the influential meme stock trader also known as ”Roaring Kitty,” revealed a large stake in the company.

The influential trader disclosed the stake in the online pet-products retailer days after posting an image of a dog on his X account.

Keith Gill, the meme stock trader "Roaring Kitty," thrust Chewy Inc into the spotlight when he made a $245 million bet on the online pet products retailer on Monday.

Reasons to buy Chewy stock. At the end of March, Chewy had 19.98 million customers. This is enough to give the niche retailer significant negotiating power with Mars, Nestle, and

GameStop investor Keith Gill, also known as Roaring Kitty, was a pivotal figure in the 2021 meme-stock frenzy.

Chewy shares erased gains after initially spiking as much as 10 percent on Monday as . The disclosure with the US Securities and Exchange Commission shows Gill owns roughly 9 million Class A shares, worth about $245 million based on Friday’s closing price.