Bill Miller’s firm sold GameStop holdings during initial Reddit frenzy


Value investor Bill Miller told CNBC on Tuesday that one of his firm’s funds sold its GameStop holdings during the Reddit-fueled frenzy that began earlier this year.

“We had GameStop in our deep-value product, and I think our cost on it was around $4 or something,” Miller said in an interview on “The Exchange.” “When it got into the $70s is when we sold it, then it of course went to $400.”

Shares of GameStop eventually retreated sharply from their Jan. 28 high of $483, falling below $50 at one point in February as the initial headline-grabbing short squeeze came to an end.

However, the stock has remained both volatile and in focus as the video game retailer announces steps in its digital…


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