The Home Monetary Providers Committee has introduced the lineup for its GameStop listening to subsequent week. The committee will hear testimony from Robinhood CEO Vlad Tenev, Reddit CEO Steve Huffman, Melvin Capital CEO Gabriel Plotkin, Citadel CEO Kenneth Griffin and Reddit person Keith Gill, Rep. Maxine Waters introduced Friday afternoon.
Learn the background:
Extra witnesses could also be known as, Waters, the chairwoman of the Home Monetary Providers Committee, stated Friday.
“We’ll have the younger man from Reddit, his identify is Keith Gill, who principally began this mania,” Waters stated on Feb. 3 when. “We’ll ensure that we’re not taking sides.”
The listening to comes after Reddit’s WallStreetBets group banded collectively and used Robinhood and different monetary companies apps to push GameStop stocks 14,000% higher over the previous couple of months after Wall Street hedge funds bet against those shares.
Robinhood then restricted trading of GameStop stock citing “market volatility,” however after a lawsuit seeking class-action status was shortly filed in opposition to Robinhood was filed in New York. Robinhood modified course later the identical day, restoring “limited buys of these securities.”