Some Asset Managers May Have Profited Wildly From the GameStop Short Squeeze

Retail investors may not be the only ones profiting from the epic short squeeze on shares of GameStop (NYSE: GME) that has captivated market audiences everywhere.

The world's largest asset management company, BlackRock (NYSE: BLK), held a roughly 13% stake, or 9.2 million shares, in the video game retailer at the end of 2020, according to a Securities and Exchange Commission filing.

Since then, retail investors fueled by the subreddit WallStreetBets, who noticed the amount of short interest on GameStop, have banded together to drive the stock higher by pledging not to sell shares.

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Source Fool.com