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The sale of the South Korean asset manager comes after the stock increased by 788% until Wednesday.
Eric Broder Van Dyke / Dreamstime.com
GameStop
revealed on Thursday in a filing with regulators that MUST Asset Management, a major shareholder of the company, sold its entire share in the company.
The sale of the South Korean asset manager comes after the share increased by 788% until Wednesday, being increased by the swarms of individual investors who targeted the very small shares of the video game retailer.
Shares of GameStop (ticker: GME) fell sharply on Thursday, down about 43% by noon. Robinhood, a free stock trading app that individual investors have used to buy GameStop shares, said Thursday that it restricts trading in certain stocks that have also been targeted by Reddit messaging users to allow users to close. only positions.
In its statement, Robinhood said the new restrictions apply to the actions of
American airlines
(AAL),
AMC Entertainment
(I HAVE C),
Blackberries
(BB),
Bed Bath & Beyond
(BBB),
Express
(EXPR),
Koss
(KOSS),
Naked Brand Group
(NAKD) and
Nokia
(NOK). Other brokers have also placed restrictions on some of the shares affected by a huge influx of individual investors.
Write to Ben Walsh at [email protected]