financetom
Business
financetom
/
Business
/
'Roaring Kitty' Keith Gill dissolves entire stake in Chewy, filing shows
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
'Roaring Kitty' Keith Gill dissolves entire stake in Chewy, filing shows
Nov 3, 2024 2:23 PM

(Reuters) -Keith Gill, the stock influencer known as Roaring Kitty, has dissolved his entire stake in pet products retailer Chewy, a filing with the U.S. SEC showed on Tuesday.

Chewy's shares fell nearly 2% in extended trading.

Known for his cryptic posts, Gill uses platforms like YouTube and Reddit to disclose 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 a picture of a dog on his X account.

Gill did not immediately respond to a Reuters request for comment.

The Chewy stake is Gill's first known investment beyond videogame retailer GameStop.

There is a link between Gill's investments - Ryan Cohen, the billionaire founder of Chewy, who sold it in 2017, is now CEO of GameStop. Gill has praised Cohen in his social media posts in the past.

Once an office worker, Gill shot to fame after his cat memes and exuberant YouTube streams, in which he frequently wore a bright red pirate bandana, drew thousands of copycat bets on GameStop, crushing hedge funds that had bet against the stock.

Gill's investment had raised concerns among Chewy's top brass about asset managers, who are shareholders, potentially being put off by the ensuing volatility in the stock fueled by Gill's army of individual investors, a person familiar with the company's thinking 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 company. He won notoriety and a cult-like following among some investors.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
Copyright 2023-2026 - www.financetom.com All Rights Reserved