Chewy shares slipped after it was revealed famed meme stock trader Keith Gill, known by his online username Roaring Kitty, has sold off his entire stake in the pet supplies company.
Gill, best known for driving the GameStop short squeeze in January 2021, disclosed a 6.6% stake in Chewy in July, owning 9 million shares worth about $245 million at the time.
He has now exited his position in Chewy, per a filing with the US Securities and Exchange Commission on Tuesday.
Gill did not explain in the filing or on his social media accounts the reason for the share sale.
Shares of Chewy traded down 0.8% at $26.48 late morning on Wednesday, but are up 18.5% in the year to date.