Font size
The sale of the South Korean asset manager comes after the stock is up 788% through Wednesday.
Eric Broder Van Dyke / Dreamstime.com
GameStop
Thursday announced in a request to regulators that MUST Asset Management, a large shareholder in the company, has sold its entire stake in the company.
The sale of the South Korean asset manager comes after the stock is up 788% through Wednesday, driven by swarms of individual investors targeting the video game retailer’s heavily shorted stocks.
GameStop (ticker: GME) share fell sharply on Thursday, dropping about 43% by noon. Robinhood, a free stock trading app that individual investors have used to buy GameStop stock, said on Thursday that it is restricting trading in certain stocks that are also targeted by Reddit message board users to only allow users to hold positions. to close.
In its statement, Robinhood said the new restrictions apply to stocks of
American Airlines
(AAL),
AMC Entertainment
(AMC),
BlackBerry
(BB),
Bed Bath & Beyond
(BBB),
to express
(EXPR),
Koss
(KOSS),
Naked brand group
(NAKD), and
Nokia
(NOK). Other brokers have also placed restrictions on some stocks that are affected by a massive influx of individual investors.
Write to Ben Walsh at [email protected]