Roaring Kitty has dissolved his holdings in Chewy, but meme stocks are alive and well Boston 25 News [Video]

NEW YORK — (AP) — A pivotal actor in the meme stock craze that began during the pandemic continues to hold a powerful sway over the movement of shares in major U.S. corporations.

Nearly four months after revealing a massive stake in the online pet supply retailer Chewy, Keith Gill, aka Roaring Kitty, has dissolved his entire holdings in the company.

Shares slumped overnight and traded down 1% on Wednesday.

Filings with the U.S. Securities and Exchange Commission in July revealed that Gill had acquired 6.6% of the company’s shares after hinting at investments using pictures of dogs on the social media platform X.

Gill became widely known 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 betting against it, or shorting its stock. But Gill and those who agreed with him changed GameStop’s trajectory by buying thousands of shares in the face of almost …