:max_bytes(150000):strip_icc()/GettyImages-2160085331-b85fb5bef00348b184d54fb7fabf7831.jpg "Meme Stock Hero ‘Roaring Kitty’ Dumps His Chewy Stake")
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Key Takeaways
- Meme stock hero “Roaring Kitty” has sold his entire stake in pet supplies retailer Chewy.
- The investor, whose real name is Keith Gill, shook up the market in the summer when he posted a comic picture of a dog on his X account, followed by news he bought 9 million shares of Chewy.
- The news led Chewy shares to bounce around in Wednesday morning trading.
“Roaring Kitty” is roiling the markets once again, this time sending shares of Chewy (CHWY) yo-yoing.
A regulatory filing showed the meme stock hero, whose real name is Keith Gill, has sold off his entire stake in the pet supplies retailer.
Gill caused a spike in Chewy’s stock price, along with that of rival Petco Health and Wellness (WOOF), in June when he posted a comic picture of a dog on his X site. They rose again in July when it was revealed Gill held a 6.6% position in Chewy, owning 9 million shares worth about $245 million at the time.
Gill did not explain in the filing or on his X account the reason for his selloff.
Chewy shares have moved up and down Wednesday morning, recently trading slightly lower. Overall, they’re up about 12% year-to-date.