Reddit, Robinhood and Citadel CEOs to testify at GameStop hearing next week

Executives at the center of the GameStop trading saga — including from Reddit and Robinhood, plus hedge funds Melvin Capital and Citadel — will testify before Congress next week, the House Financial Services committee announced on Friday.

Why it matters: The virtual hearing is the first since the fallout of the Reddit stock trading frenzy that pushed stocks like GameStop and AMC Entertainment to record highs — and the first time some of these executives will speak publicly about it.

Who’s testifying:

  • Vlad Tenev, Robinhood CEO
  • Steve Huffman, Reddit CEO
  • Ken Griffin, Citadel CEO (and owner of Citadel Securities, the market-maker that operates separately from the hedge fund)
  • Gabe Plotkin, Melvin Capital Management CEO
  • Keith Gill, r/WallStreetBets investor (better known as “Roaring Kitty” or “DeepF—kingValue”)

Worth noting: The committee said “additional witnesses may be announced.”

The bottom line: The trading mania has fizzled, but it still has the attention of Congress and regulators.

What’s next: The hearing — titled “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide” — is scheduled for next Thursday, starting at 12 pm E.T.

Source: Axios Breaking News

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Related Post

NEWSLETTER

Sign up for Breaking News, Newsletter, Blog Posts and Special Deals from 1631 Digital and their media/marketing partners.

Subscribers agree to be contacted from 1631 Digital News and/or their media/marketing partners for breaking news alerts, newsletters and special media marketing offers via email, mail and/or texting communication.