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Meme stocks are back in fashion this year, with GameStop (NYSE:GME) stock and AMC Entertainment (NYSE:AMC) stock catching bids in mid-May. Now Chewy (NYSE:CHWY) stock is on the move, and it looks like short-squeeze traders have a new shiny object to focus on in July. Thus, for better or for worse, the meme-stock trend hasn’t fully run its course yet.

Meanwhile, investors might want to consider whether Chewy stock is worth buying on its own merits. On top of all that, there’s the irony of a social-media denizen called “Roaring Kitty” taking a large position in a pet-supplies provider. These are strange times we live in, but maybe the value proposition of can give enterprising investors something to chew on.



Just to recap, “Roaring Kitty” is the X handle of retail trader and meme lord Keith Gill. He’s the unofficial leader of a small army of short-squeeze traders who spurred sharp but short-lived rallies in GameStop, AMC Entertainment and a handful of other stocks in 2021. Gill resurfaced on social media in May after a prolonged hiatus.

GameStop and AMC Entertainment stocks got a quick bump in May before coughing up most of those gains and leaving ill-timed traders holding the proverbial bag. Fast-forward to June 27, when Gill posted on X a picture of a cartoon dog with no accompanying text: Even a picture with no context was evidently enough to in Chewy stock and Petco Health and Wellness (NASDAQ:WOOF) stock. However, until recently, there was no strong evidence .

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