The House Financial Services Committee has declared the arrangement for its GameStop hearing one week from now. The advisory group will hear declaration from Robinhood CEO Vlad Tenev, Reddit CEO Steve Huffman, Melvin Capital CEO Gabriel Plotkin, Citadel CEO Kenneth Griffin and Reddit client Keith Gill, Rep. Maxine Waters reported Friday evening.
The virtual hearing, called “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide,” will happen Feb. 18 at 12 p.m. ET. Here’s the place where to watch it.
More observers might be called, Waters, the executive of the House Financial Services Committee, said Friday.
“We’ll have the young man from Reddit, his name is Keith Gill, who basically started this mania,” Waters said on Feb. 3 when announcing the hearing. “We’re going to make sure that we’re not taking sides.”
The meeting comes after Reddit’s WallStreetBets people group united together and utilized Robinhood and other monetary administrations applications to push GameStop stocks 14,000% higher throughout the most recent couple of months after Wall Street multifaceted investments wager against those offers.
Robinhood at that point confined exchanging of GameStop stock refering to “market instability,” however after a claim looking for class-activity status was immediately recorded against Robinhood was documented in New York. Robinhood changed course later the very day, reestablishing “restricted purchases of these protections.”
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