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Must Asset Management, which held a 4.7% stake in
GameStop Corp. (NYSE: GME) until April last year at least, is turning less bullish on the stock in light of the latest confounding rally.
What Happened: Must Asset Management CEO Kim Doo-yong told Bloomberg on Monday that the South Korean hedge fund had turned “less bullish” and “more neutral” on GameStop.
According to Kim, GME “stock will continue to be very volatile and unpredictable in the short term.”
The 4.7% stake made Must Asset Management one of the largest GameStop investors, as per Bloomberg. Whether the hedge fund has maintained its stake isn’t clear and Kim refused to comment to Bloomberg.