WASHINGTON — (AP) — Shares of Chewy slid close to 2% in overnight trading Wednesday after a regulatory filing revealed that the meme stock trader known as Roaring Kitty had sold his stake in the online pet store.
A beneficial ownership filing with the Securities and Exchange Commission posted Tuesday showed that Roaring Kitty, whose legal name is Keith Gill, had sold all of his shares in Chewy, which amounted to a 6.6% stake.
Plantation, Florida-based Chewy fell 1.9% after hours, to $26.19 per share.
Gill, an investor at the center of the meme stock craze, acquired more than 9 million shares of Chewy in July that made him the company’s third-biggest shareholder.
Gill made a name for himself in 2021, when he rallied retail investors around GameStop. At the time, the video game retailer was struggling to survive — and big Wall Street hedge funds and major investors were …