Major Investor Sells Off Half a Billion Dollars in Chewy Stock

Key TakeawaysA firm affiliated with Chewy's biggest shareholder is selling off $500 million in stock.The company said it would also buy$50 million worth of those shares, and cancel and retire them.The $50 million purchase is being executed separately from its current share repurchase program begun in May. Online pet supplies retailer Chewy (CHWY) announced that a firm connected to its biggest shareholder was selling off half a billion dollars in stock. The company said that Buddy Chester Sub LLC, an entity ...