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Keith Gill, the famous meme stock trader known as “Roaring Kitty,” no longer owns Chewy stock after owning a 6.6% stake in the company over the summer, according to a Tuesday filing with the Securities and Exchange Commission.
Shares of Chewy were volatile on Tuesday, and were down slightly since mid-morning Wednesday at $26.54 per share. The stock is up 18.47% year to date.
Roaring Kitty liquidated its entire stake in Chewy, an SEC filing showed on Tuesday. (Gabby Jones/Bloomberg via Getty Images/Getty Images)
| A ticker | Security | Finally | Change | change % |
|---|---|---|---|---|
| CHWY | Company CHEWY INC. | 26.51 | -0.17 |
-0.64% |
In July, Gill bought just over 9 million shares of the online pet retailer. The stake was valued at more than $230 million at the time.
The Chewy stake is Gill’s first known investment outside of GameStop, and there are connections between his investments.
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Ryan Cohen, the billionaire founder of Chewy, who sold it in 2017, is now the CEO of GameStop. Gill has previously praised Cohen on social media.
Keith Gill, a Reddit user known for his inspiring GameStop rally, during a YouTube livestream. (Michael Nagle/Bloomberg via Getty Images/Getty Images)
Once an office worker, Gill rose to fame after his cat memes and hilarious YouTube streams, where he often wore a bright red bandana, attracted thousands of copycat bets on GameStop, breaking hedge funds that had bet on the stock.
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Gill’s investment has raised concerns among Chewy’s top executives about asset managers, who own shareholders, who may be disillusioned by the stock’s volatility fueled by Gill’s army of individual investors, a person familiar with the company’s thinking told Reuters in July, when Gill. he revealed his pole.
Keith Gill, known on Reddit under the pseudonym Roaring Kitty, first gained fame for his involvement in the 2021 GameStop stock saga. (Photos by Pavlo Gonchar/SOPA/LightRocket via Getty Images / Getty Images)
| A ticker | Security | Finally | Change | change % |
|---|---|---|---|---|
| GME | Company GAMESTOP CORP. | 23.02 | +0.32 |
+1.41% |
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Roaring Kitty sent GameStop shares soaring in 2021 with a series of social media posts that drove a lot of sales for the company. He gained fame and a cult following among some investors.
FOX Business’ Daniella Genovese and Reuters contributed to this report.
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