BlackRock trims stake in GameStop (NYSE:GME) stock – Idaho Reporter

Investments, NYSE

BlackRock trims stake in GameStop (NYSE:GME) stock

It’s a big decrease from June, when BlackRock reported owning more that 11 million of the Gamestop’s shares.

BlackRock Inc. trimmed its holdings in Gamestop, Inc. (NYSE:GME) by 18.23% during the 4th quarter, according to the company in its most recent Form 13G/A filing with the SEC. The firm now owns 9,217,335 shares of GME, which represents 13.20% ownership.

In their previous filing , BlackRock Inc. had reported owning 11,271,702 shares.

Even after selling these shares Blackrock is one of the biggest GME holders at the moment. Almost same amount of shares is in the possession of RC Ventures LLC, of Ryan Cohen.

On the other side, billionaire Chamath Palihapitiya invested in GME stock today just to humor his followers.

 

The battle between GME short-sellers and WallStreetBets crowd is continuing as GME stock gained another 100% today, at the time of writing this article.

9 Comments

  1. You fail to mention that they have increased their holdings from other more recent filings.

    • ohqjcxp9al@harakirimail.com

      GME is an admitted pump employed via social forum and inexperienced buyers getting comfortable with weak fundamentals who are too nice will be slow to deal with their feelings as they watch it fall (soon). WSBs is not the right place to make friends unless you like being called a retard. So, does WSBs or billionaires with machine learning have your back as an investor? Great article Robert.

      • sbfhjd

        WSB openly admits that they don’t have your back. They tell you, in your face, that if you lose money you’re a retard. And they also tell you that putting money on the GME squeeze is not financial advice, it is a meme. The only guarantee is that you are part of the community and that you are free to share your losses or gains and unleash speculative discussion amongst fellow degenerates. As well as being allowed to inform everyone you’re about to place an unholy amount of wealth on a bad bet, with all the glorious memes and flames that will bring you.

        This isn’t about having eachothers back, it’s a free-for-all, if you lose your life savings no one’s going to pay them back to you. The point is that something is happening with GME and wallstreetbets are rallying as many retail investors as possible to push and hold in the hopes that something will happen. There is evidence that this is working, results are made which convinces more people to participate, which gives more results, which gets more people and so on.

        And yes, WSB is absolutely the right place to make (likely unreliable) friends for people who like calling eachother retarded for making any investment, smart or stupid. You act is if this isn’t a thing when 8 million people willingly signed up for that.

  2. Derek D Bondo

    According to SEC filing SC 13G/A Blackrock had a larger than 5% acquisition of GME stock today, and did not in fact reduce their holdings. Can you shed any light on this? https://sec.report/Document/0000834237-21-001340/

    • Robert K. Reed

      If you look at the article you will see it is written :”The firm now owns 9,217,335 shares of GME, which represents 13.20% ownership.”
      Which is much more than 5%.

    • harakiri

      Congratulations on pasting the sec report in the comments. You need two reports to disprove what the idaho reporter said. The article and the sec report state the same thing.

    • Derek

      Let me try again, sorry. The SC 13G/A form is used when an investor takes a 5% or larger acquisition of common stock. Yes…13.2 is higher than 5, you’re right. But this article says Blackrock trimmed their position, however the 13G/A is used when ACQUIRING shares. Am I missing something. I have come to realize this filing took place 12/31/2020 but was just reported yesterday. Just trying to get a clear picture.

  3. RobertYouWeasel

    Wow….why would you link and skew the reader to an older Dec 26, 2020 report and not the 01/26/2021 report? This is rather fishy Robert.

    https://sec.report/Document/0000834237-21-001340/

    • Robert K. Reed

      You are pointing to a same file, just hosted on a different site.

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