Keith Gill, the stock influencer generally known as Roaring Kitty, has dissolved his entire stake in pet products retailer Chewy, a filing with the Securities and Exchange Commission showed Tuesday.
Chewy’s shares fell nearly 2% in prolonged trading.
Known for his cryptic posts, Gill uses platforms like YouTube and Reddit to reveal his trading positions.
In July, the stock influencer unveiled a 6.6% stake in Chewy, an e-retailer selling pet food and medicine, days after Gill posted an image of a dog on his X account.
Gill didn’t immediately reply to a Reuters request for comment.
The Chewy stake is Gill’s first known investment beyond videogame retailer GameStop.
There’s a link between Gill’s investments — Ryan Cohen, the billionaire founding father of Chewy, who sold it in 2017, is now CEO of GameStop. Gill has praised Cohen in his social media posts up to now.
Once an office employee, Gill shot to fame after his cat memes and exuberant YouTube streams, during which he steadily wore a vivid red pirate bandana, drew hundreds of copycat bets on GameStop, crushing hedge funds that had bet against the stock.
Gill’s investment had raised concerns amongst Chewy’s top brass about asset managers, who’re shareholders, potentially being delay by the following volatility within the stock fueled by Gill’s army of individual investors, an individual accustomed to the corporate’s considering told Reuters in July, when Gill disclosed his stake.
Roaring Kitty sent GameStop shares soaring in 2021 with a series of social media posts that drew a flood of retail money into the corporate. He won notoriety and a cult-like following amongst some investors.
