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

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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…



Source cnbc.com

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