Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Robinhood, Citadel, Melvin Capital CEOs to testify in Congress on GameStop turmoil

Published 02/12/2021, 07:05 PM
Updated 02/12/2021, 08:00 PM
© Reuters. A 3d printed Robinhood logo is seen in front of displayed GameStop logo in this illustration

WASHINGTON (Reuters) - The chief executive officers of Robinhood, Citadel, Melvin Capital and Reddit will testify before the U.S. House Financial Services Committee on Feb. 18 on the trading turmoil in GameStop Corp (NYSE:GME) and other stocks, the panel's chairwoman, Representative Maxine Waters (NYSE:WAT), said on Friday.

The committee is examining how an apparent flood of retail trading drove certain stocks to extreme highs, squeezing hedge funds like Melvin that had bet against those shares.

Latest comments

Robinhood should be put out of bizAnd all the others that held up trading in thr FREE marketSEC has fiduciary dity to act swiftly and definitelyClose rhe company that is gamefying the stock and options markets
The stock isn’t worth that much, pump & dump is illegal, having noobs holding bags is wrong, RH probably saved a ton of guys from loosing a ton of cash, whether it was their intention or not, Roaring Kitty new exactly what was happening to all the bag holders, and should be held responsible
A pump and dump is illegal when you are a securities dealer or brokerageJot when tou write on a message boardRobinhood and orher brokers thag did same interrupted the free market and THAT is illegalOr at least was
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.