Business
Top Aussie fund sold GameStop before market frenzy sent shares into the stratosphere – Sydney Morning Herald
Paradice Investment Management sold shares in GameStop, just before an extraordinary sharemarket surge lifted the value of its former holding above $1 billion.
Paradice would not confirm the size of its GameStop investment. However, market data indicates it may have missed out on an incredible windfall by selling the stock.
According to data from FactSet based on US regulatory disclosures, Paradice held around 1,833,000 GameStop shares as of September 30. GameStops shares hovered around $US17.50 to $US18.50 in December and into early January, but exploded as high as $US483 this week.
Paradice would have netted between $US32 million to $US34 million ($44…
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