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BlackRock may have raked in $2.4 bln on GameStop's retail-driven stock frenzy
deleted.comBlackRock Inc, the world's largest asset manager, could have made gains of about $2.4 billion on its investment in GameStop Corp as retail investors pour money into the video-game retailer's shares. Assuming no change in BlackRock's position, the value of its stake would be worth $2.6 billion now, compared with $173.6 million as of December. GameStop's stock has surged nearly 700% in the past two weeks in a rally fueled by interest from amateur investors on Reddit, forcing hedge funds to retreat from heavy losses and sparking calls for scrutiny of the social media-driven trading frenzy.
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My actual beef with this is that maybe you can bting down some hedge funds this way but then what? Tesla isn't shorting. Apple isn't shorting. This whole thing is a chop or two at the pillars of thesystem but utterly not enough and seeing how WSB is simping Elon Musk i can't see themm going against Tesla