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Meme stock kingpin’s latest play has hit a brick wall

The man behind the GameStop mania of 2021 has a new $US250 million bet: pet food retailer Chewy, but it isn’t going to plan.

Nick Bonyhady
Nick BonyhadyTechnology writer

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Keith Gill made the GameStop meme stock saga happen in 2021 with hundreds of hours of videos analysing the company, hyping up his fans and castigating short sellers.

Shares in the shopping centre video game retailer surged more than 30 times over, briefly hitting highs above $US500 as Gill spurred on retail investors’ enthusiasm with livestream after livestream.

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Nick Bonyhady is a technology writer for the Australian Financial Review, based in Sydney. He is a former technology editor, industrial relations and politics reporter at the Sydney Morning Herald and Age. Connect with Nick on Twitter. Email Nick at nick.bonyhady@afr.com

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    Original URL: https://www.afr.com/markets/equity-markets/roaring-kitty-s-pet-food-play-is-more-like-a-dog-s-breakfast-20240702-p5jqgj