- Richard Mashaal's Senvest Management discloses ownership of 3.6M shares, or a 5.54% stake, in GameStop (NYSE:GME).
- Some background on Senvest is here.
- Mashaal: "We seek out of favor, unloved, misunderstood, and underappreciated companies where expectations, sentiment and valuations are all low... Over one or two or three years they can change & improve, for a better outlook, so they are no longer unloved, & get multiple expansion."
- GameStop is higher by 5% in after-hours action.
- Previously: Blockbuster bull vs. bear battle setting up on GameStop (Oct. 10)