Zurich-based PSquared Asset Management acquired 635,084 shares of TaskUs in the third quarter, valued at approximately $11.34 million as of September 30. This new position represents 9.0% of the fund’s reportable U.S. equity assets. TaskUs provides digital outsourcing services and posted strong quarterly results with revenue reaching $298.7 million and free cash flow of $42 million. Despite the recent decline in TaskUs shares, the company continues to generate cash and expand into high-value services like AI data labeling and trust and safety solutions. PSquared’s significant investment in TaskUs signals confidence in the company’s potential growth.

Read more at Nasdaq: Why One Fund Made an $11 Million Bet on TaskUs Despite a Steep 32% Stock Drop