Roaring Kitty sells stake in Chewy

Published On Oct 30, 2024, 12:20 PM

Keith Gill, known as 'Roaring Kitty,' has sold his entire stake in Chewy, amounting to a 6.6% ownership he acquired earlier this summer. This decision comes following increased volatility in the stock post-acquisition. Gill's involvement in Chewy linked his investment approaches with Ryan Cohen, the former CEO of Chewy and current CEO of GameStop, which further raises concerns about potential market volatility driven by retail investors. Chewy's shares saw some fluctuations around the announcement.

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Stock Forecasts

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Negative

The sale by a prominent investor like Roaring Kitty may signal a lack of confidence in Chewy's near-term performance, contributing to further stock volatility. Additionally, given the company's business environment and current stock performance, which has been on a slight downward trend, investors might consider this a bearish indicator.

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