CEOs of Reddit and Robinhood and ‘Roaring Kitty’ slated to testify in GameStop hearing

..

Reddit CEO Steve Huffman, Robinhood co-CEO Vlad Tenev, as well-conditioned as Keith Gill (aka Roaring Kitty) are all on the attestant litany for an usable audition vanward the Lodge Banking Casework Committee, equal to a release from Commander Maxine Waters (D-CA). The hearing, to be conducted virtually, will delving the recent volatility in shares of GameStop afterward a spectators fueled by a integer of day traders contemplative on the r/WallStreetBets Reddit board.

Over a two-week aeon that began last month, GameStop's stock (GME) skyrocketed by 500 percent, hitting a hovering of $483 on January 28th. Several government entities are now looking into whether there was market abetment involved, as well-conditioned as whether Robinhood as well-conditioned as over-and-above brokerages that temporarily ringed trading of GME were in deference with federal regulations.

According to The New York Times, hindmost Gill invested $53,000 in GME in 2019, he began tweeting as well-conditioned as posting videos virtually the stock; afterward the Reddit rollercoaster last ages his primogenial maintain is now worth virtually $48 million.

The Senate Committee on Banking also plans to officialdom a hearing into the "current winger of the stock market." The Lodge hearing, which has the haunting title "Game Stopped? Who Wins as well-conditioned as Loses Back Shorten Sellers, Whimsical Media, as well-conditioned as Retail Investors Collide," will stream live on its website bursting at 12PM ET on February 18th.

.