Meme stock influencer ‘Roaring Kitty’ dumps entire stake in Chewy, sending shares lower

Keith Gill, nan stock influencer known arsenic Roaring Kitty, has dissolved his full liking successful pet products retailer Chewy, a filing pinch nan Securities and Exchange Commission showed Tuesday.

Chewy’s shares fell astir 2% successful extended trading.

Known for his cryptic posts, Gill uses platforms for illustration YouTube and Reddit to disclose his trading positions.

In July, nan banal influencer unveiled a 6.6% liking successful Chewy, an e-retailer trading pet nutrient and medicine, days aft Gill posted a image of a canine connected his X account.

Known for his cryptic posts, Keith Gill uses platforms for illustration YouTube and Reddit to disclose his trading positions.

Gill did not instantly respond to a Reuters petition for comment.

The Chewy liking is Gill’s first known finance beyond videogame retailer GameStop.

There is simply a nexus betwixt Gill’s investments — Ryan Cohen, nan billionaire laminitis of Chewy, who sold it successful 2017, is now CEO of GameStop. Gill has praised Cohen successful his societal media posts successful nan past.

Once an agency worker, Gill changeable to fame aft his feline memes and exuberant YouTube streams, successful which he often wore a agleam reddish pirate bandana, drew thousands of copycat bets connected GameStop, crushing hedge costs that had stake against nan stock.

In July, unveiled a 6.6% liking successful Chewy, an e-retailer trading pet nutrient and medicine AP

Gill’s finance had raised concerns among Chewy’s apical brass astir plus managers, who are shareholders, perchance being put disconnected by nan ensuing volatility successful nan banal fueled by Gill’s service of individual investors, a personification acquainted pinch nan company’s reasoning told Reuters successful July, erstwhile Gill disclosed his stake.

Roaring Kitty sent GameStop shares soaring successful 2021 pinch a bid of societal media posts that drew a flood of unit money into nan company. He won notoriety and a cult-like pursuing among immoderate investors.