Summary List PlacementAfter scheduling a hearing into the GameStop trading mess, House Financial Services Committee Chairwoman Maxine Waters told Cheddar that she wanted Reddit trader Keith Gill, the Robinhood CEO, and an agent from GameStop to affirm.
” I have [Keith Gill] on my list to be present … I want him here … And I desire absolutely to have Robinhood. I even want to have GameStop here,” Rep. Waters informed Cheddar.
huge news– here’s the minute we asked @RepMaxineWaters to clarify the witness list for the 2/18 hearing: “I have [Keith Gill] on my list to be present … I desire him here … And I desire definitely to have Robinhood. I even wish to have Gamestop here.” @HenaDoba @cheddar pic.twitter.com/rvbieb5Y7t— j.d. durkin (@jiveDurkey) February 3, 2021
Previously in the day, Waters validated to Bloomberg that she is actively working on the welcome list for the February 18 hearing.
” I have my desire list however it’s not settled. I’m trying to get everyone that, you know, has a function to play. I want Reddit there. I desire Robinhood there. I even desire GameStop there. And I desire a couple of the hedge funds there,” Rep. Waters informed Bloomberg. “I’m looking at Citadel and Melvin Capital.”.
Announcing the hearing recently, Waters said that, “Attending to that predatory and manipulative conduct is the responsibility of lawmakers and securities regulators who are charged with protecting investors and guaranteeing that our capital markets are fair, organized, and effective.”.
Keith Gill, who goes by “DeepF– ingValue” on Reddit’s WallStreetBets forum and Roaring Cat on YouTube, is widely credited with leading the charge in reinforcing the buying of GameStop stock alongside retail investors in the subreddit, leading the company’s stock rate to escalate 8,000%over the last 6 months..
According to The New York Times, regulators may be looking at Gill for promoting GameStop stock while still utilized and leaving former company MassMutual.
On January 28 th, trading platform Robinhood pulled the carpet from under retail investors, freezing trades on GameStop ($ GME), AMC ($ AMC), BlackBerry ($ BB), Bed Bath & Beyond ($ BBBY), and Nokia ($ NOK), all stocks that Reddit users were buying.
Prior to the rises, significant hedge funds had been greatly shorting, or wagering versus, those stocks.
Robinhood called its freeze a “risk-management choice” due to “amazing scenarios.” After the frenzy, Robinhood likewise announced that it raised $1 billion from existing financiers this week.Join the conversation about this story” NOW SEE: What makes ‘Parasite’ so shocking is the twist that takes place in a 10- minute sequence
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