Page 17 - திசைகாட்டி பாயஂட் ஆராய்ச்சி வர்த்தக News Today : Breaking News, Live Updates & Top Stories | Vimarsana
After the GameStop fiasco, momentum builds for an $800 billion tax
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Momentum is building for a stock-trading tax — and Wall Street is furious
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Hedge funds, Robinhood face grilling by Congress over GameStop Reddit rally Reuters 2/18/2021
By Pete Schroeder and Michelle Price
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WASHINGTON, Feb 18 (Reuters) - Wall Street hedge fund managers, the chief executives of Robinhood and Reddit, and a YouTube streamer known as Roaring Kitty face a grilling on Thursday afternoon from U.S. lawmakers over the Reddit rally in shares of GameStop Corp.
Some of Wall Street s most powerful players, including billionaire Republican mega-donor and Citadel CEO Ken Griffin, will make rare public statements about their business practices during the Congressional hearing on how Reddit users trading on retail platforms banded together to squeeze hedge funds that had bet against shares of the video game retailer and other companies.
Hedge funds, Robinhood face grilling by US Cong over GameStop Reddit rally
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UPDATE 7-Long, tense with cat photo for relief; how the GameStop hearing unfolded Reuters 2/18/2021
(Rewrites throughout with quotes, details from hearing)
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By Pete Schroeder, Svea Herbst-Bayliss and John McCrank
WASHINGTON/BOSTON/NEW YORK, Feb 18 (Reuters) - Tension, irate questions, people talking over one another, and a cat photo. Thursday s five-plus hour U.S. congressional hearing on GameStop had all of that, as top hedge fund managers, the head of Robinhood, and Roaring Kitty himself answered a barrage of questions over who was at fault in January s trading frenzy.
GameStop rose more than 1,000% during two weeks as retail traders using the Reddit platform encouraged each other to pile in, socking it to hedge fund managers who were short the stock - a bet GameStop would fall.